Piyush Jain

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Piyush Jain is an Indian businessman who came into the news for evading huge amounts of taxes. In December 2021, during a raid of DGGI, Ahmedabad, and Income Tax Department, more than Rs. 257 crores were recovered from his bungalow.Earlier, he used to live with his family in Anandpuri, Uttar Pradesh. Piyushs grandfather, Phool Chand Jain, used to run a business of printing clothes. His elder brother, Amrish Jain, is known as the compound king in Kannauj, Uttar Pradesh.Initially, he started working as a salesman in his fathers soap business in Mumbai.He then started making compounds for soap and detergents, and after a few years, he tried his hands on making edible compounds for tobacco products. Later, he started his perfume business in Kanpur, Uttar Pradesh and expanded his business in various cities in India and abroad.He has also started a few companies in the Middle East. He owns more than 38 companies in India. He along with his elder brother co-founded Odochem Industries, a chemical manufacturing company in Uttar Pradesh.He landed into a major problem when his house was raided by the DGGI team in December 2021. The whole incident started when in October 2021, four trucks that were carrying the pan masala cartons were taken into custody by the DGGI team, Ahmedabad.The loaded cartons were worth lakhs of rupees whereas the bills presented by the truck drivers were not more than Rs. 50,000. Later, it was found that he produced fake bills to evade GST deductions.Later, Praveen Jain, the owner of the truck transport company Ganesh Road Carriers was investigated by DGGI, Ahmedabad, Gujarat, followed by a raid at Shikhar Pan Factory.During the investigation, around Rs. 1 crore was recovered from the office of Praveen Jain. The DGGI team investigated Praveens brother-in-law Piyush Jain and Amrish Jain on 23 December 2021, and it was found that they were also involved in tax evasion.Later, the investigation team raided Piyush Jains bungalow in Kanpur, Uttar Pradesh, and recovered cash of around Rs. 257 crore. The team then called the officials of the Income Tax Department to continue the investigation process. Cash recovered from Piyush Jains house during the raid.