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India: Rs 150 crore recovered from businessman’s house (counting still going on) –

New Delhi: Rs 150 crore was recovered from a businessman’s house in the Indian state of Uttar Pradesh.

According to details, Indian officials said that in a raid by income tax authorities in Kanpur, Rs 150 crore cash has been recovered from the house of a businessman Piyush Jain so far, while the counting of exports is still going on.

Vivek Johri, chairman of the Central Board of Direct Taxes and Customs (CBIC), told media on Friday that tax raids were carried out at places (homes, offices and factories) connected to Piyush Jain, a businessman from Kanpur, which belonged to the perfume industry. There are shares, and more than one hundred and fifty crore rupees in cash has been recovered.

He said that this is the biggest operation in the history of CBIC, however, no arrest has been made in this case so far.

Pictures of the raid show two mountains of cash in two large cupboards, all bundles wrapped in a paper envelope and secured with yellow tape, with more than 30 such bundles in each picture.

In another photo, officers from the CBIC, the IT department and the Goods and Services Tax (GST) intelligence unit are seen sitting on a wreath in the middle of a room, surrounded by cash. There are more piles and three note counting machines.

The raids at several locations in Uttar Pradesh, Gujarat and Mumbai began on Thursday at a factory of Messrs. Trimurti Fragrances in Kanpur, which manufactures the Shekhar brand of pan masala and other aromatic tobacco products.


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