Rs 150 crore seized from office of UP businessman; BJP, SP trade charges

Saturday, 25 December 2021newsdesk

GOODS AND Services Tax (GST) authorities have marked their biggest cash recovery so far with Rs 150 crore seized from multiple locations in Kanpur allegedly linked to Piyush Jain, a businessman who deals in pan masala and perfumes, officials said. With UP polls looming, the seizure has triggered a political blame game with the ruling BJP and Opposition SP accusing each other of having dubious links with Jain.

New Delhi, 25 December 2021

As per news report of The Indian Express, According to an official statement, the Directorate General of GST Intelligence in Ahmedabad received a tipoff based on which the search was conducted on Wednesday. Officials searched the factory premises of Trimurti Fragrance Pvt Ltd, which manufactures Shikhar Pan Masala and tobacco products, and the office and godowns of Ganpati Road Carriers, in Kanpur, the statement said. The residential premises of partners of Odochem Industries in Kannauj, which supplies perfumery compounds, were also searched. “…huge amount of cash, wrapped in paper, has been found. The process of counting of cash has been initiated with the help of officials of State Bank of India, Kanpur… The total amount of cash is expected to be in excess of Rs 150 crore,” the statement said.

Source - The Indian Express