Kanpur's perfume trader Piyush Jain got bail, around Rs 200 crore was found in the raid

Kanpur's perfume trader Piyush Jain has got bail from the court in the gold smuggling case. This bail has been granted to Piyush Jain from the Allahabad High Court in the DGGI case. Earlier, Piyush Jain has already got bail in the DRI case. Piyush may be released on Saturday after getting bail from the High Court in this case. It is known that Piyush Jain is being released on a bond of 10 lakhs.

A total of Rs 197.49 crore in cash, 23 kg of gold and some other valuable "objectionable articles" were recovered during searches at Jain's premises, the Directorate General of GST Intelligence Unit (DGGI) said in a statement issued in December last year. The seizures were made from the premises of Odochem Industries, a perfumery company. Jain was the promoter of this company. Another official had said that during the raids carried out at various premises of Piyush Jain, assets worth Rs 257 crore, including gold and silver, were recovered. He said that the recovered amount was allegedly related to sending the goods by a goods transporter with fake invoices and without e-way bill.

Apart from cash, 23 kg gold was also recovered from Piyush's Kannauj house. After this, on December 27, DDGI sent Piyush to jail. After sending Piyush to jail, the DRI of Lucknow had declared 23 kg of gold recovered from his Kannauj house as foreign and registered an FIR on his behalf. Since then Piyush Jain is lodged in Kanpur jail. Both DDGI and DRI were facing cases against him. Perfume businessman Piyush's family members were lobbying for his bail in the court through big lawyers. It is being told that Piyush Jain had applied in the court and said that tax of Rs 52 crore is levied on me including tax evasion and penalty. He had requested that the Directorate General of GST Intelligence (DGGI) refund the remaining amount to me after deducting Rs 52 crore.