The Enforcement Directorate arrested Jamshedpur businessman Gyanchand Jaiswal and his son Raj late on September 30 in an inquiry into alleged misuse of GST input tax credit. Navbharat Times and IANS reported the overnight arrests on October 1.
The agency is investigating allegations that invoices were issued without actual supplies of goods and used to claim tax credit through a network of firms. Reports described the wider case as involving approximately ₹734 crore. That is an allegation about the wider scheme, not proven personal proceeds.
Investigators examined business records, banking documents and electronic material. IANS reported that the men were brought to Ranchi and were due to be produced in court. A completed remand hearing was not independently confirmed for this report. The arrests do not establish guilt, and the sources reviewed did not include a response from the two men to this latest action.