February 28, 2024

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Piyush Jain: How did this kind of large tax evasion occur at Piyush Jain’s position? needle of investigation caught on hawala trade

No longer most effective most people, the companies have additionally been blown away by means of this kind of large amount of money and gold discovered from the premises of fragrance dealer Piyush Jain. The most important tax evasion of GST has come to gentle on Piyush Jain’s company. After this, questions are being raised whether or not the quantity of 197 crores won from Piyush’s hideouts has any reference to the trade of hawala. Investigating companies also are in search of solutions to those questions.

The investigating companies have no longer discovered any account or account of masses of liters of sandalwood oil at the side of money and gold recovered from Piyush Jain’s premises. Because of this all of the consignment together with money has been confiscated. In conjunction with this, the investigating companies have additionally began investigating from other angles. Any such angles may be of hawala trade.

Kannauj’s fragrance is exported within the nation and in a foreign country
In reality, perfumes made in Kannauj are exported to Saudi Arabia, Britain, Dubai, Qatar, Iran, Germany or even France. The rustic itself provides fragrance price Rs 1000 crore. Aside from this, fragrance investors additionally make compounds, which can be utilized in making pan masala, cleaning soap and deo. Many fragrance investors are at once concerned within the trade of betel masala. There may be tax evasion on a big scale on this, so the transaction of uncooked subject material may be completed thru money.

Fragrance traders related to pan masala trade
Fragrance investors provide items price 2100 crores each month to the pan masala business by myself. In keeping with media reviews, this quantity is carried round thru hawala. The position of transporters may be discussed on this paintings, who cover money below the guise of grocery, fabric and dry culmination.

Transporter was once stuck in Ahmedabad
In December itself, the GST group stuck a truck encumbered with pan masala in Ahmedabad. Upon scrutiny of the paperwork, the case of tax evasion got here to gentle. The products recovered in investigation became out to be of the corporate making Shikhar Panamasala of Kanpur. On 22 December, the Ahmedabad unit of DGGI had raided the transporter Ganpati Highway Provider at the side of the places of Shikhar Pan Masala makers in Kanpur whose vehicles have been being loaded and despatched.

Suspected of smuggling gold
In keeping with media reviews, the investigation group had additionally won faux expenses of Odochem Chemical substances (Piyush Jain’s corporate) from the places of the transporter, most effective and then raids have been performed in the home of Piyush Jain Kanpur and Kannauj. Piyush Jain’s connection may be being related with gold smugglers. The 23 kg gold recovered from Piyush Jain’s premises was once stated to belong to a Swiss corporate that might no longer be purchased and offered in India.

Considerably, an quantity of Rs 197.47 crore and 23 kg of gold was once recovered from Piyush Jain’s places in Kanpur and Kannauj. At this time, DGGI and DRI are concerned within the investigation of the case.

Piyush Jain (Document)