Perfume Businessman Piyush Jain Acquitted, Case Of GST Evasion To Continue

Kanpur, March 13 (TNA) Perfume businessman Piyush Jain has been acquitted by the special CJM court in the gold smuggling case. A summons fee of Rs 56.86 lakh was collected from the businessman. The Customs Department had seized 23 kg of gold. The Special CJM Court acquitted him in the case registered under the Customs Act in the gold smuggling case. In fact, along with giving up his claim on the 23 kg gold seized by the government, Piyush had also deposited a summon fee of Rs 56.86 lakh. On this basis, an application was filed in the court seeking relief. A reply was also filed in the court by the Directorate of Revenue Intelligence.

After hearing both sides, the court acquitted Piyush based on fulfilling the conditions of the compounding authority. However, the GST evasion case will continue. Piyush's advocate Chinmay Pathak said that 23 kg of gold worth Rs 11 crore 37 lakh 35 thousand belonging to Piyush was confiscated by the Customs Department. Penalty was also imposed on Piyush. After paying the penalty, Piyush filed an appeal with the Customs Commissioner in Lucknow demanding the release of the gold. Meanwhile, Piyush applied for the Chief Commissioner Customs (Preventive) Zone, Patna.

The Chief Commissioner had ordered on 18 December 2023 that Piyush would deposit Rs 56,86,750 in the government treasury within 30 days. No claim shall be made against the gold, other materials seized and the fine imposed. Piyush has withdrawn the appeal filed in Lucknow regarding the return of gold, and will not take action on it again. The compounding order will not have any effect on the case registered by any other investigating agency or under any other law. This order will apply only to Custom Act cases. The court will order acquittal in the case.

Based on the order, Piyush had deposited Rs 56,86,750 in the department's account on December 29, 2023, and had filed an application in the court demanding acquittal in the case. Special Public Prosecutor Ambrish Tandon objected and argued that on the one hand, Piyush has confessed to the crime before the Chief Commissioner, while on the other hand, he is misleading by saying that he has been falsely implicated in the affidavit given in the court. The court accepted that Piyush has fulfilled all the conditions. The prosecution also did not present any facts to prove that Piyush had violated the conditions. The court acquitted Piyush from the case based on fulfilling the conditions of the order of the compounding authority.

On December 27, 2021, the Director General of GST Intelligence (DGGI), Ahmedabad, during a raid at perfume businessman Piyush Jain's house in Anandpuri and a firm in Kannauj, recovered cash worth Rs 197 crore and recovered 23 kg of gold. Piyush was sent to jail. After about ten months, he was released after getting bail from the High Court.

Two separate cases were registered against Piyush in GST evasion and gold smuggling cases. The hearing in the gold smuggling case was going on in the special CJM court under the Customs Act. Along with giving up his claim on the seized gold, Piyush had also deposited the mitigation fee imposed by the Customs Department. After this, he got relief in the Customs Act case. However, the trial in the GST evasion case will continue.