Piyush Jain, UP Businessman Who Rides Scooter, Hoarded Over Rs 250 Crore
NDTV
Piyush Jain has been arrested for evasion of Goods and Services Tax, after authorities found over Rs 250 crore cash at his house and factory.
Businessman Piyush Jain travels in Kannauj, his hometown, on his old scooter. There are two cars parked outside his house - a Qualis and a Maruti. But the central agencies last week found out that the Kanpur-based perfume maker had hoarded over Rs 250 crore.
Jain has been arrested for evasion of Goods and Services Tax (GST). Officials found over Rs 250 crore in cash at his home and factory in Kannauj. Pictures of a raid at his premises, showing officials using note counting machines to count the heaps of currency notes went viral last week.
The money was allegedly linked to the dispatch of goods via fake invoices and without e-way bills by a goods transporter.
Piyush Jain learned the art of making perfumes and edible essences from him father, who is a chemist.
