Kanpur, 30th December 2021: A total of Rs 177 crores 45 lakh was recovered from the premises of Piyush Jain from Kanpur.
There has also been a round of accusations and counter-allegations between the political parties.
Jain has knocked on the court’s door. “Made a mistake. Deduct Rs 52 crores penalty and return the rest”, he appealed.
Jain, who is serving judicial custody for 14 days in Kanpur jail, has filed the application. His lawyers are also preparing to file his bail plea.
On the other hand, DGGI’s advocate Ambareesh Tandon said on Wednesday “the money recovered from his house is tax evasion. The cash received from there has been deposited in 42 boxes and deposited in the bank.”
The amount has been deposited in SBI twice. For the first time, Rs 109 crore 34 lakh rupees 74 thousand 240 in 25 boxes and for the second time 68 crore 10 lakh 27 thousand crore rupees have been deposited in the bank in 17 boxes.
Jain has confessed in his statement that he had formed three companies. Through those companies, the Pan Masala compound was secretly sold in four years. Deposited money from them for tax evasion. A total tax of Rs 32 crores was made on this.
The penalty amounts to a liability of Rs 52 crore. The details of gold and money found from Jain’s hideout in Kannauj are yet to be found. Raids were conducted at seven locations owned by Jain.
According to the DGGI report, Jain has stated that he has forgotten everything. He said, “Rs 196 crore is mine, you have arrested me…it’s over.”
On the other hand, Jain’s lawyer Sudhir Malviya said that he will file the bail application as soon as the court opens on January 1, the first day of the new year.
He said, “GST has shown a recovery of Rs 177 crore from his client’s house. Piyush has been accused of irregularities in depositing GST. We are preparing his bail plea. Will file it as soon as the court opens.”
Jain’s trouble has increased further. The Directorate General of Revenue Intelligence has registered an FIR under the Customs Act after cash and gold were recovered in the DGGI raid. This action has been taken after getting 23 kg of gold from his house in Kannauj. The gold brick bears the Abu Dhabi seal. DGGI had doubts.
The DGGI sent the matter to the DRI after gold bricks were found on Monday evening. The recovered biscuits belong to Saudi Arabian company International Precious Metal Refiners. Its headquarter is in UAE. One branch is located in Sharjah’s Sharjah International Free Zone Warehouse while the other is in Gold Soak Dubai.
This kind of gold does not come to India through government channels but reaches the country through smuggling. Seeing the consignment of smuggled gold in Jain’s house, the DGGI team transferred the case to DRI. Now DRI will investigate it from the angle of gold smuggling. The DRI team will also find out whether there is any gold smuggling syndicate behind this.