Kanpur's businessman Pyush Jain is once again in the news. Piyush Jain, the owner of Odochem Industries, a perfume and pan masala manufacturer, was arrested in December 2021 after DGGI officials raided his residence and factory in Kanpur and Kannauj. The raids resulted in the seizure of over ₹197 crore in cash, 23 kg of gold, and 600 kg of sandalwood oil. Jain was released on bail in March 2022. He has since been appealing the seizure of the gold, claiming that it was legally acquired.
In a recent court filing, Jain's lawyers said that he had paid ₹56.86 lakh in compounding fees to the DRI. They also said that Jain had withdrawn his appeal to the court to have the gold released.
In Kanpur, a case has been filed under Section 135 of the Customs Act against Piyush Jain, who is now filing a petition in court to reclaim 23 kilograms of confiscated gold. He had previously claimed the gold, paying a penalty of 60 lakhs, and has also appealed for its release. As per the lawyers, a response from the customs department is expected soon.
In Kannauj on 27th December 2021, the team from DGCI Ahmedabad showed a seizure of 23 kilograms of gold from the house of Piyush Jain, claiming it to be foreign gold. However, Piyush Jain is now claiming that this gold does not belong to him. He has also taken an appeal to claim the gold. Additionally, he has deposited the compounding fee. Currently, Piyush Jain has come out on bail.