The Directorate of Revenue Intelligence has arrested three persons involved in the transportation of smuggled gold in Mumbai and seized 22.89 kg of the precious metal worth Rs 16.71 crore, officials said on Thursday.
Besides the yellow metal, Rs 40 lakh, which was sale proceeds of smuggled gold, was also seized from them, they said.
Based on specific information, Mumbai Zonal Unit of the DRI intercepted three persons, while they were moving smuggled gold from one place to another, according to a statement issued by the central agency.
A search of their baggage resulted in the recovery of 22.89 kg of smuggled gold, valued at Rs 16.91 crore, in various forms, which includes melted bars, egg-shaped capsules, strips and chains, it stated.
On further information that the sale proceeds of smuggled gold to the tune of Rs 40 lakh were kept in a house, the same was searched and the entire amount was recovered and seized under provisions of the Customs Act, said the DRI. -- PTI