DRI roped in after foreign marking gold found in businessman Piyush Jain's premises
Sunday, May 29, 2022
  • Circulation
  • Advertise
  • About Us
  • Contact Us
  • Privacy Policy
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
SUBSCRIBE
No Result
View All Result
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • RSS in News
  • Subscribe
Home Bharat

DRI roped in after foreign marking gold found in businessman Piyush Jain’s premises

WEB DESK by WEB DESK
Dec 27, 2021, 08:49 pm IST
in Bharat, Delhi
DGGI had informed that the accused has admitted that cash recovered from his premises was related to the sale of goods without paying taxes (File)

DGGI had informed that the accused has admitted that cash recovered from his premises was related to the sale of goods without paying taxes (File)

Share on FacebookShare on TwitterTelegramEmail

Kanpur court has sent businessman Piyush Jain to 14 days of judicial custody after raids at his residence led to the recovery of over Rs 194.45 crores of cash, 23 kg gold and 600 kg sandalwood.

 

New Delhi: Directorate of Revenue Intelligence (DRI) has been roped after the Directorate General of GST Intelligence (DGGI) recovered approximately 23 kg of gold from the factory premises of Kanpur-based businessman Piyush Jain on Monday (December 27).

A senior DRI official said, "During the raid in residential/factory premises of M/s Odochem Industries at Kannauj approximately 23 kgs of gold was recovered. There were several gold bars that have foreign markings on them."

"We will be investigating to find out if the gold was smuggled to India and who were people involved in it. DRI is being roped in for necessary investigations," he said.

After Kanpur, a joint team of DGGI and Local Central GST took Jain to his factory and residence in Kannauj, which resulted in a cash recovery of cash and gold. The raid in the residential and factory premises of Odochem Industries is still underway.

UP trader Piyush Jain sent to 14-day judicial custody following recovery of unaccounted cash

Kanpur court has sent businessman Piyush Jain to 14 days of judicial custody after raids at his residence led to the recovery of over Rs 194.45 crores of cash, 23 kg gold and 600 kg sandalwood.

The Directorate General of GST Intelligence (DGGI) has searched for the residential and factory premises of Odochem Industries at Kannauj. During the searches at Kannauj, the officers have recovered an amount of about Rs 17 crores in cash. In addition, recovery of approximately 23 kgs of gold and huge unaccounted raw materials used in the manufacture of perfumery compounds, including more than 600 kgs of sandalwood oil hidden in underground storage, having a market value of about Rs 6 crores, have been made. The raid in the residential and factory premises of Odochem Industries is still underway.

Meanwhile, the DGGI had informed that the accused has admitted that cash recovered from his premises was related to the sale of goods without paying taxes.

"After intercepting four trucks operated by M/s Ganpati Road Carriers, carrying pan masala and tobacco of said brand cleared without payment of GST, the officers tallied the actual stock available in the factory with the stock recorded in the books and found the shortage of raw materials and finished products. This further corroborated that the manufacturer was indulging in the clandestine removal of goods with the help of a transporter who used to issue fake invoices to manage the transportation of said goods. The officers have also seized more than 200 such fake invoices. The manufacturers of Shikhar brand of pan masala/tobacco products have admitted and deposited an amount of Rs 3.09 crores towards their tax liability," the DGGI said in its release.

"The evidences collected during the searches conducted in the last five days are being investigated thoroughly to unravel the tax evasion," it added.

The DGGI arrested businessman Piyush Jain after recovering unaccounted cash sandalwood oil, perfumes worth crores from him. This is the biggest cash seizure in the history of the Central Board of Indirect Taxes and Customs, the apex body of the investigation agency Directorate General of GST Intelligence (DGGI), is conducting the search.

Courtesy: ANI

   

 

 

  

                    

ShareTweetSendShareSend
Previous News

‘Baseless, blatant racist generalisations’: Analyst on Pak PM dubbing Taliban as Pashtun movement

Next News

2021: Unhappy America

Related News

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

India’s daily cases fall below 3,000-mark, logs in 2,568 new COVID-19 infections

India reports 2,828 new COVID-19 cases, 14 deaths in last 24 hours

Systematic Uyghur genocide depicts human rights abuses against ethnic minorities in China: Report

Chinese Minister says China’s human rights protection will be aligned to national ‘conditions’

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

India’s daily cases fall below 3,000-mark, logs in 2,568 new COVID-19 infections

India reports 2,828 new COVID-19 cases, 14 deaths in last 24 hours

Systematic Uyghur genocide depicts human rights abuses against ethnic minorities in China: Report

Chinese Minister says China’s human rights protection will be aligned to national ‘conditions’

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

Kerala govt hand in glove with terrorist groups: MoS V Muraleedharan on PFI sloganeering

PM Modi lauds success of cooperatives in Gujarat, says self-reliance solution to many difficulties faced by the country

PM Modi lauds success of cooperatives in Gujarat, says self-reliance solution to many difficulties faced by the country

US slams China for ‘restricting, manipulating’ UN human rights chief’s visit

US slams China for ‘restricting, manipulating’ UN human rights chief’s visit

PM Modi invites citizens to share ‘inspiring life journeys’ for the upcoming episode of ‘Mann ki Baat’

PM Modi to address 89th edition of Mann Ki Baat today

  • Circulation
  • Advertise
  • About Us
  • Contact Us
  • Privacy Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Special Report
  • Sci & Tech
  • Entertainment
  • Education
  • Books
  • Interviews
  • Travel
  • Health
  • Obituary
  • Subscribe
  • About Us
  • Advertise
  • Circulation
  • Contact Us
  • Privacy Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies