Lucknow: The Enforcement Directorate has registered a case against Kannauj-based perfume trader Piyush Jain under the Prevention of Money Laundering Act. ED has filed this case on the basis of an FIR lodged by the Directorate General of Goods and Services Tax Intelligence (DGGI) and Directorate of Revenue Intelligence (DRI) against the perfume trader at the zonal office in Lucknow.
Last year, DGGI's Ahmedabad unit raided Piyush's properties in Kanpur and Kannauj and recovered 197 crore cash and 23 kilos of gold. The agencies had also charged Piyush with tax evasion of Rs 31.50 crore. According to ED sources, the investigation agency has also started the probe in the matter, and once again Piyush Jain's residence and properties may be raided which can lead up to his interrogation. If Piyush fails to give satisfactory answers to the agency, his properties are likely to be attached.
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On July 28, the Allahabad High Court granted bail to Piyush Jain over the condition that he can't leave the country without the Court's permission and has to submit his passport along with a bail bond of Rs 1 crore.
