Kanpur- based businessman Piyush Jain was arrested last week on the charges of tax evasion after recovery of nearly Rs 257 crore in cash and Rs 180 crore in Gold, by central agencies. A perfume trader who stacked up crores in cash at his house and its walls is mistaken as a common man by many, but mind you, he is not. In a shocking turn of events, the businessman’s connection with the Samajwadi party leader has now also been revealed.
Piyush Jain and Samajwadi’s love affair
Recently, the Central Board of Indirect Taxes and Customs (CBIC) carried out raids at the premises of Piyush Jain. Piyush, interestingly, is the brother of senior Samajwadi Party leader Pammi Jain. Moreover, SP Chief Akhilesh Yadav had launched a specially made “Samajwadi perfume” in November aiming at spreading the scent of socialism in the state. What grabs the attention of netizens is that the perfume endorsed by SP was launched by the perfume entrepreneur Piyush Jain.
CM Yogi took a dig at Samajwadi Party. He said, “Now you must have understood why ‘Bua-Babua’ used to oppose demonetization. They were afraid that if it happened then they’ll roam carrying a bowl in their hands.”
He further added, “A person associated with SP used to talk about ‘Samajwadi perfume’, on which our state BJP president said that this is not a perfume but a ‘Samajwadi stink’. Yesterday Rs 257 crores and many kgs of gold, silver were recovered from their walls.”
Perfume trader arrested after cash recovery of Rs 257 crore
- The raid conducted by Income Tax and the Directorate General of GST Intelligence at Piyush Jain’s residence last week continued for over 120 hours.
- He was arrested after 50 hours of interrogation.
- Nearly, Rs257 crore in cash and gold were seized during the raid. Documents related to 16 expensive properties four of which are in Kanpur, seven in Kannauj, two in Mumbai, one in Delhi, and two properties in Dubai.
- 18 lockers in a cellar at Piyush Jain’s ancestral house in Kannauj were found. In addition to that, a bunch of around 500 keys to use to open the locker were also found.
Piyush Jain- an uncommon perfume trader
Piyush Jain- the man, who has thrown up the biggest cash haul in the history of the country, lives a lifestyle that is astonishingly simple. Jain still rides an old scooter in Kanpur and his house is extremely modest. He also has a Qualis and a Maruti that can make anyone assume that he is a common man.
In fact, when cash worth crores were recovered from his house, his neighbours were stunned.”He was just another businessman in the perfume business and we never imagined that he would have so much cash stacked in his house. He never flaunted his wealth and even his lifestyle was very middle class,” one of his neighbours said.
Despite certain facts to depict that there is a link between Piyush Jain with Samajwadi Party, the latter denied having any connection with him. SP Supremo Akhilesh Yadav, on the contrary, is fumed with BJP over the raids as the ruling party has exposed the ‘tontichor’ party masquerading as politicians.