Published By : Prameya News Bureau | December 27, 2021 IST
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Kanpur, Dec 27: Kanpur-based businessman Piyush Jain was arrested almost 40 hours after central agencies officials raided his house and other linked locations and recovered as much as Rs 257 crore cash, 250 kg silver, and 25 kg gold. The money was linked to the dispatch of goods via fake invoices and without e-way bills by a goods transporter. The raid is being carried out by the Goods and Services Tax (GST) officials from units in Uttar Pradesh and Gujarat who have alleged that the money was linked to the dispatch of goods via fake invoices and without e-way bills by a goods transporter. “This is the biggest recovery in the history of the Central Board of Indirect Taxes and Customs (CBIC)," said Vivek Johri, Chairman of the Central Board of Indirect Taxes and Customs (CBIC). The officials have also informed that Jain is likely to be produced in court on Monday and could be taken to Ahmedabad from Kanpur for further investigation. However, Jain, in his defense has said that he has accumulated the recovered money after selling 400 kg of gold left by his ancestors. “Piyush Jain said he sold gold in batches, for the past many years, to small jewellers," said a GST Intelligence officer.
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