Piyush Jain Raid Latest News: Businessman Piyush Jain, who has been arrested for evasion of Goods and Services Tax (GST), is being described as a 'man of simplicity' by his neighbours in his hometown Kannauj. He rides an LML scooter in the city and has been seen arriving at weddings and other functions wearing kurta-pyjamas with rubber slippers, said neighbours in the Chipatta locality in Kannauj.
Neighbours have also said that Piyush was not a social man. He used to visit Kannauj, do his work and straight away return to Kanpur.
According to neighbours, Piyush's father Mahesh Chandra Jain was a chemist, from whom his two sons Ambrish and Piyush learned the art of perfume making and launched their firm namely Odochem Chemicals.
Piyush's mother had passed away two years ago.
Piyush Jain and his brothers bought two houses and merged them into one which now covers a plot of about 800 square yards. His father and some of the staff members live in the house. It is said that his father, to date, prepares perfume compounds and both the sons come here only to get the finished goods or to deliver the raw materials.
Neighbours have said that Piyush Jain's house is believed to have more grandeur than the other nearby businessmen's houses. The whole house looks mysterious when viewed from outside and it is impossible to see inside activities.
Piyush owns another house in Kanpur's Anandpuri locality.
Recovery at Piyush Jain's residence
A Kanpur court on Monday sent businessman Piyush to 14 days of judicial custody after raids at his residence.
Notably, the central agencies last week found out that the Kanpur-based perfume maker had hoarded over Rs 194 crore.
Directorate General of GST Intelligence (DGGI) officials recovered about 23 kg of gold from the factory premises of Kanpur-based businessman Piyush Jain on Monday.
Apart from gold, till now, over Rs 194.45 crores of cash and 600 kg sandalwood have been recovered from the possession of Piyush Jain.
Pictures of the raid at his premises, showing officials using note counting machines to count the heaps of currency notes have surfaced.
Central Board of Indirect Taxes and Customs, the apex body of investigation agency Directorate General of GST Intelligence (DGGI) which is conducting a search, called this the biggest cash seizure in history.
(With inputs from ANI)