Kannauj: Raids continued on Tuesday for the fifth consecutive day at the residence of perfume businessman Piyush Jain, with recovered notes being counted in the presence of a team of the Directorate General of GST Intelligence (DGGI). A team of State Bank of India (SBI) personnel has been deployed at the spot to count the money.
The UP trader is being raided on the suspicion of GST evasion. As per sources, till Tuesday a total of Rs 17 crore in cash, 23 kg of gold and 600 kg sandalwood oil has been recovered in the businessman's Kannauj house.
On Monday, the Directorate of Revenue Intelligence (DRI) joined the investigation, launching a probe of its own regarding the gold recovered at Jain's house.
On Tuesday itself, meanwhile, a further Rs 2.40 crore was recovered from the trader's residence. About 500 vials of perfume and sandals found in the house have been sent for testing.
Also read: GST Tax Evasion: Perfume trader Piyush Jain sent to 14-day judicial custody
The raids have been going on in both perfume trader Piyush Jain's factory premises and house in Kanpur, as well as his ancestral residence in Kannauj.
In Kanpur, meanwhile, the team has so far recovered cash worth Rs 177.45 crore. Further attempts to secure banknotes are on.
As per information, a basement built inside Jain's ancestral house has surfaced, wherein sacks full of notes were recovered.
