A total of Rs 195 crore in cash, 23 kg of gold and valuables worth Rs 6 crore were recovered from the possession of Piyush Jain, abusine...
A total of Rs 195 crore in cash, 23 kg of gold and valuables worth Rs 6 crore were recovered from the possession of Piyush Jain, abusinessman from Kanpur, India.
According to Indian media reports, the Directorate General of GST Intelligence had raided various places owned by Piyush Jain, a businessman in the perfume business, and recovered the largest amount of money in Indian history.
DGGST recovered Rs 195 crore in cash, 23 kg of gold and sandalwood oil worth Rs 6 crore from the possession of Piyush Jain.
The Directorate General of GST enlisted the help of the Central Bank of India to calculate the amount of treasures seized during the 120-hour raid and then the amount was calculated with the help of bank machines.
The Special Public Prosecutor told the court that Piyush Jain has been fined Rs 52 crore for tax evasion and the accused is currently in police custody on a 14-day judicial remand.
On the otherhand, Piyush Jain's lawyer took a stand in the court that after receiving thefine of Rs 52 crore, the remaining amount should be returned to my client.
However, the Special Public Prosecutor said the money would remain in the government's account until the case was decided.
No comments
Thanks