150 crore cash found in IT raid

Lucknow: The Income Tax Department (IT Dept) raided the Kanpur residence of perfume trader Piyush Jain and found a cupboard full of 500 rupee notes. According to media reports, about Rs, 150 crores has been recovered from Jain's house. The IT team is said to have already had 4 note counting machines, but when it did not work, more machines were called. Staff called from the State Bank of India (SBI). Piyush Jain is said to have made 'Samajwadi Perfume', which was launched by Samajwadi Party (SP) supremo and former CM Akhilesh Yadav. The income tax department conducted the raid on Thursday (December 23rd). BJP leader Ramratan Kushwaha has also slammed the SP over the issue, saying that the slogan of the Samajwadi Party is, people's money is ours.


According to media reports, Jain's house is located in the Anandpuri area of Kanpur. Most of the bundles recovered during the raid contain 500 rupee notes. The recovered amount was so high that the department team which had arrived with 4 note counting machines also fell short. Thereafter, some other machines and trained staff of SBI were called in to count the notes. Piyush Jain is said to be related to Samajwadi Party MLC Pushparaj Jain Pammi. Piyush Jain is originally a resident of Kannauj. Apart from perfumes, many more businesses of Piyush are also being reported. 2 of these companies are also running in the Middle East. The Income Tax Department, therefore, raided all the locations of Kanpur, Mumbai, and Kannauj.

The income tax department had also raided the residence of the owner of Shikhar Pan Masala on Wednesday, a day before the raid. Fake bills in the name of fake firms were recovered from here. Differences in raw materials and finished goods were also found in the stock of the factory. Jain and KK Agarwal were also reportedly traced from there.

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