High Court to hear bail plea by perfume baron Piyush Jain in tax evasion case
India Today
Allahabad High Court is set to hear bail plea by perfume baron Piyush Jain, who is being grilled by various agencies for tax fraud, on July 6 and July 8.
Allahabad High Court on Monday posted the bail hearing of Kanpur-based perfume baron Piyush Jain, who is being grilled by various agencies for tax fraud, for July 6 and July 8.
Earlier, Jain's bail application had been rejected by the local court in Kanpur four times already.
Meanwhile, the court has extended the judicial custody of Jain till July 18.
The bail applications will be heard in connection with the Directorate of Revenue Intelligence (DRI) case where 23 kg of gold was found in Jain’s Kannauj house along with the Directorate General of GST Intelligence case where unaccounted cash of over Rs 187 crores was recovered from him.
In December 2021, the Ahmedabad unit of Directorate General of GST Intelligence (DGGI) conducted a raid at Piyush's Kannauj house and seized over Rs 195 crore in cash, 23 kilograms of gold and sandalwood oil worth Rs 6 crore. Of the 23kg of gold, 11 kg had a foreign mark. The DGGI admitted that this gold was smuggled from abroad.
During interrogations in jail, Piyush did not reveal to the DRI officials where he purchased the gold in India.
