Money recovered from 2 bunkers, says witness
KANPUR: An official witness accompanying the Directorate General of GST Intelligence (DGGI) raid team at businessman Piyush Jain’s residence in Kannauj, said that ₹19 crore in cash was recovered from two secret chambers built in the basement of the premises, taking the total cash haul to nearly ₹200 crore.
Amit Dubey, one of independent witnesses who accompanied the DGGI team on the five-day raid, said: “Money was recovered from two underground bunkers after much difficulty.”
Jain’s son, who was present at the spot, appeared to have no idea about the money hidden in the chambers, he told the reporters. “Team members spent maximum time locating and getting into the bunkers, which were like secret chambers, it took a lot of effort,” he said.
The Directorate General of GST Intelligence (DGGI) concluded the raids at Jain’s house in Chipatta Mohalla on Wednesday evening.
Jain was arrested Sunday under Section 67 of the CGST Act after recovery of unaccounted ₹196.45 crore in cash, 23 kgs of gold and 600 kg of sandalwood — worth ₹6 crore — from premises linked to him in Kanpur. Zakir Hussain, additional director of DGGI said, “We have concluded our ‘panchnama’. We have recovered gold, handed it over to DRI, but the probe is on. The gold which was recovered in Kanpur is separate... here, we recovered about ₹19 crore cash,” he told reporters.
DGGI also said the accused has admitted that cash recovered was related to the sale of goods without payment of GST.
“The statement of Piyush Jain has been recorded wherein he has accepted that the cash recovered from the residential premises is related to the sale of goods without payment of GST,” DGGI said in a statement.
The accused has been sent to 14 days’ judicial custody by a Kanpur court. Jain’s lawyer Subodh Malviya said he would file for his bail application on January 1.
Malviya further said that DGGI has assessed on the basis of recovery that Piyush Jain has a liability of ₹32.20 crore as penalty. “We have offered in writing that total ₹52 crore shall be deducted from the recovery money... The sum includes, penalty, the interest and other expenses...” he said.