DRI seizes 8 kg gold worth Rs 4.78 cr, Rs 1.22 cr cash; one held

October 16, 2023 23:44

File image

The Directorate of Revenue Intelligence has seized 8.022 kilograms of gold worth Rs 4.78 crore and Rs 1.22 crore cash at Zaveri Bazar in south Mumbai, an official said on Monday.

Two premises were searched as part of the operation to bust a gold smuggling syndicate and one person has been arrested, he said.

The arrested accused is the manager of the one of the premises that was searched and is an alleged key member of a foreign origin gold smuggling syndicate, the official added.

"Based on specific intelligence, the DRI Mumbai Zonal Unit conducted searches at two premises on Friday and Saturday. At the first site, 1 kilogram gold bar with foreign markings and without proof of procurement was seized," he said.

"Using this lead, a second search was conducted in which 7.022 kg of foreign-origin gold and Rs 1.22 crore cash were found. The money is sales proceed from smuggled gold. Further searches were conducted at four locations related to the syndicate, one of which led to the busting of an active gold melting facility," he said.

The arrested accused has been remanded in judicial custody, while a hunt was on for others who are part of this syndicate. -- PTI

« Back to LIVE

TOP STORIES

Olympics Hockey: Harmanpreet's brace powers India to win

The Indian men's hockey team beat Ireland despite a few defense lapses to more or less secure its passage into the quarter-finals of the Paris Olympics.

Panghal, Lamboria, Pawar's Olympics boxing campaign over

Amit Panghal's campaign at the Paris Olympics mirrored his experience at the Tokyo Games. The seasoned boxer once again made a pre-quarter-finals exit while debutant Jaismine Lamboria was also ousted on Tuesday.

Israel strikes Beirut after Golan Heights attack, 1 killed

The IDF said that its target was the Hezbollah commander, who was responsible for the attack at the football ground in Majdal Shams.

In Pictures - Biles wins 5th Olympics gymnastics gold as Team US reign

Simone Biles clinched her fifth Olympic gold medal as she made a triumphant return to the women's gymnastics team final at the Paris Games on Tuesday, reinforcing her status as one of the greatest athletes just three years after...

Paris 2024 Olympics: Medals Table

The medal tally at the 2024 Olympic Games in Paris.