Will move bail application as soon as court reopens in January, says Peeyush Jain's lawyer

After Kanpur-based businessman Peeyush Jain was sent to 14 days' judicial custody by a Kanpur court, his lawyer Sudhir Malviya on Thursday said that he will move the bail application as soon as the court reopens on January 1, 2022.

Malviya added that he will meet Peeyush in a day or two to hold a discussion in detail, on the basis of which the bail application will be prepared.

Speaking to ANI, Malviya said, "As of now, Peeyush Jain is in judicial custody. Now we are preparing for his bail. As soon as the court reopens on January 1, 2022, we will move the bail application. I will meet him in a day or two. As soon as I meet him, we will bring the bail application in complete detail."

Asked about the way forward in the case from here on, the lawyer said that the roadmap of the defence is being prepared.

"As far as the legal battle is concerned, there will be action against us as the things have gone against us. It is our responsibility to respond. For that, I am going through all the files and preparing the roadmap of our defence," he said.

Talking about the case registered by the Directorate General of GST Intelligence against Peeyush Jain, Malviya said that the recovery of Rs 177 crore has been shown with the estimated liability of Rs 32.5 crore.

"The complaint that has been brought to us by the GST department, the recovery of Rs 177 crore is said to be shown. In their calculation of liability, the estimated liability is shown to be Rs 32.5 crore on us. And this is estimated. They say that the amount could increase in the future," he said.

Asked about the items recovered during the raids, he said, "The case that has been filed in the court, recovery of Rs 177 crore has been shown in it. They have accused us of doing direct transactions without the use of invoices in the sales and purchase."

DGGI on Wednesday concluded the raids at businessman Peeyush Jain's residence in Uttar Pradesh's Kannauj.

The Kanpur-based businessman was arrested on Sunday under Section 67 of the CGST Act after the recovery of unaccounted cash, gold and sandalwood.

Speaking to ANI, 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 Rs 19 crore cash. As per higher officials, this is the biggest cash recovery."

Meanwhile, the DGGI which seized Rs 194.45 crores of cash, 23 kg gold and 600 kg sandalwood from businessman Peeyush Jain's possession, on Monday informed that the accused has admitted that cash recovered was related to the sale of goods without payment of taxes.

The DGGI further stated that it has seized more than 200 such fake invoices.

"The statement of Peeyush 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," it said.

"The evidence collected during the searches conducted in the last five days are being investigated thoroughly to unravel the tax evasion," it added.

( With inputs from ANI )