If you have gone through the news, you will find a story of a Kanpur businessman surfacing everywhere. Packets of seized currency notes after Income Tax officials’ raid at the premises of businessman Piyush Jain, in Kanpur, on December 24, 2021. Piyush is a businessman of perfumes in the perfume capital of India. India’s tax authorities have seized wads of currency notes running into millions of dollars and several kilograms of gold from the premises of the businessman.
This article is about Piyush, the money recovered and everything in between and after that. We will read about the perfume capital of India. How Piyush is found guilty, how did the money that was found come to Piyush and where is he now ?
The Piyush Jain Case
Kanauj – The Perfume Capital of India
The ‘Eyebrow raising’ Simple life of Piyush Jain
Political Agenda Behind the Piyush Jain Case
The Same Name issue
The Pile of Money Recovered from Piyush Jain
FAQ
The Piyush Jain Case
It was the 24th of December when a news story showed that a Kanpur based perfume businessman was caught with about 200 crores of cash in his house. Piyush Jain, the Kanpur based perfume trader was found with this questionable amount of money in his house.
Tax officials raided his house and found this enormous amount of money and kilograms of gold. The simple and normal looking person as Piyush was to the outsiders, the news piece was a surprise not only for the country but even to the people who knew him.
The intelligence wing of the goods and services tax department found unaccounted wealth, including around 23 kilograms of gold in the form of biscuits and currency worth over $24 million, from a perfume trader. The seizures were carried out at the premises of Trimurti Fragrance Pvt Ltd, Odochem Industries and a transport company called Ganpati Road Carriers, all based in the north Indian state of Uttar Pradesh.
“This is the biggest ever seizure of cash by the Central Board of Indirect Taxes and Customs. The documents seized from the premises are under scrutiny,” the statement said. During interrogation, Jain also accepted that the cash recovered from Odochem Industries is related to the sale of goods without payment of GST.
Kanauj – The Perfume Capital of India
Kannauj is a little city in Kanpur in the Indian state of Uttar Pradesh. The fact that its history is rich in the fragrance of perfume makes it the perfume capital of India. Being the perfume capital in the second-most populous country in the world elevates its already shiny appearance to the country and the world outside.
The city of Kannauj is a little over 2 hours away from Kanpur in the state of Uttar Pradesh. The fact that Kanauj is primarily known for making perfumes should not be regarded as a ticket for cheap perfumes with quality. Even better, you will find the very popular variety of perfumes called attar. Attar is the regal perfume of the ancient world.
It is said that the city has a long history of making perfumes. Some experts even say that the perfume practice dates back up to thousands and thousands of years. The art of attar is well known in the city.
While perfumes are made from alcohol or have some or the other constituent that is based out of alcohol, the attar is completely different. Attar is made from essential oils, which makes it unique and attractive.
The ‘Eyebrow raising’ Simple life of Piyush Jain
Piyush Jain lived a very simple life. He never indulged in any sort of luxury behaviour or any expense that seems unusual. He lived a simple life, had a simple car, and always dressed simply.
Piyush’s father was a soap manufacturer hailing from Mumbai. Piyush and his brother were noticeably studious and both went on to get masters in the stream of science. The brother’s wives had bachelors degrees in science. They were a single-family with knowledge of science in abundance. With that knowledge, they started manufacturing compounds of perfumes.
The family mastered the art of manufacturing sandalwood oil through chemicals at a low cost, rather than from natural sandalwood, and thus started earning huge profits. Piyush Jain used to sell the perfume compounds to different foreign clients. Among others, he also supplied fragrance to the Shikhar Pan Masala company.
Let us see what people have to say about the case and the “Eyebrow raising” simple life of arrested Piyush Jain.
Mr. Suresh, who has known Mr. Piyush Jain for four decades, said there was no criminal case against anyone in their locality. Mr. Piyush Jain is a “wonderful human being” who lived a “simple life” and did not even carry any security with him, said Mr. Suresh. “I cannot understand how he got trapped in this matter,” he added.
One of the close acquaintances of Piyush Jain said Jain always used to dress simply. Besides his bungalow, He owned a scooter and used to drive around his Hyundai Santro and an old Toyota car.
According to Mr Gupta, Mr. Piyush Jain’s father worked in a soap manufacturing company in Mumbai. Piyush and his brother both had masters degrees in science while their wives had bachelors degrees in science. Using this knowledge of chemicals, the family started manufacturing compounds for perfumes, said Mr. Gupta.
The family mastered the art of manufacturing sandalwood oil through chemicals at a low cost, rather than from natural sandalwood, and thus started earning huge profits, said Mr. Gupta.
Mr. Gupta also said Mr. Piyush Jain “had a lot of faith in his religion” and made contributions of ₹60-70 lakh for the building and revamp of two Jain temples, including one in Tirwa.
A perfume trader from the Jain community said he would often bump into Mr Piyush Jain at the temple. “He is a simple and sober person, had nothing to do with the society, even to the extent that he never made anyone his confidant,” said the trader.
Manav Makhija
Political Agenda Behind the Piyush Jain Case
PM Narendra Modi publicly announced that Uttar Pradesh has a fragrance of corruption and black money under the rule of SJ. SJ here means the Samajwadi party, a leading political party in the state of UP.
As it is the time of elections and each and every political party is trying to prove that they are the clearest and clean. This news of Piyush Jain, a perfume trader, stacking hundreds of crores told a completely different story.
PM also alleged the Samajwadi party for being related to the scam and corruption in the perfume capital of India. The case has turned into a political agenda where the motive is to qin elections.
The Same Name Issue
According to the most recent reports, there are actually two P.Jains in the city of Kannuj. One is the arrested Piyush Jain and the other person is named Pushpraj Jain. Pushpraj is also a perfume trader and has the same name initials.
The 60-year-old Pushpraj Jain is a “philanthropist” in Kannauj and a politician who also owns a petrol pump and a cold storage unit and has a house and an office in Mumbai.
The news probe stated that there must have been a change of names and the wrong person was raided. It raises more concerns on the authority to recheck the records and make sure that the correct person is raided. If this raid was unnatural then there can be supposedly more traders with black money.
The Pile of Money Recovered from Piyush Jain
On the 24th of December, it was reported after a raid on Piyush’s residence that a huge sum of money was recovered from his home. The directorate general of GST intelligence said that the first amount that they recovered was about 177 crore rupees from the residential premises of Odochem Industries in Kanpur. It was one of the biggest raids and seizures by the CBIC officials.
The Directorate General of GST Intelligence said it first recovered unaccounted cash of ₹177.45 crores from the residential premises of Odochem Industries in Kanpur, in the biggest ever seizures by the CBIC (Central Board of indirect taxes and customs) officials.
The story doesn’t end here, it was probably the beginning. The DGGI officers then recovered ₹17 crores in cash from the residential factory of Odochem Industries in Kannauj, while also recovering around 23 kgs of gold and a huge quantity of raw materials used in the manufacture of perfumery compounds. Everything until this segment was unaccounted for.
The newfound materials included more than 600 kg of sandalwood oil hidden in underground storage. That alone had a market value of about ₹6 crores. Moreover, the gold that was recovered had foreign markings, the Directorate of Revenue Intelligence (DRI) was roped in for necessary investigation, said the DGGI.
Anik Banerjee
Conclusion
The perfume capital of India is famous for its perfumes, the practice dates back thousands of years. This new smell of black money stocking really stains such a great history. Piyush has been arrested and he is waiting for his trials at the court of law. As of now, he is spending time thinking about what he will do now to bail out of this situation.
We don’t think there is much of a light left for him, as this is such a big case of black unaccounted money. Some say that this amount of money is related to political parties in Uttar Pradesh. This has also become a new political agenda where politicians play the blame game. However, This case has a lot to do with businesses and the income that they can hide successfully and illegally.
The government has to make strict rules to make not just the perfume capital but the whole of India devoid of unaccounted money.
FAQ
What was the business of Piyush Jain?
Piyush Jain was a perfume trader and he used to sell the perfume compounds to different foreign clients.
What did Piyush Jain do?
Piyush Jain was arrested on charges of evasion of Goods and Services Tax (GST).
