HyderabadNov 23 (Maxim News): Based on specific intelligence, officers of the Directorate of Revenue Intelligence (DRI), Hyderabad, searched a residential premises on 21.11.2019, at East Maredpally, Near Shenoy Hospitals, Secunderabad, and found 40 pieces of smuggled gold in a green coloured bag kept in a vehicle parked inside the premises.
Further, Rs 1.99 Cr of sale proceeds of smuggled gold was found in another car parked in the same premises. On enquiries, it was found that two persons travelled in a car from Calicut via Mysuru to Hyderabad and were carrying smuggled gold concealed in clandestine compartment beneath the hand brake which is created exclusively to carry gold and money.
Total weight of smuggled gold was found to be 4 kgs. The accused admitted that the gold was smuggled into the country and they did not have any valid documents to prove the licit purchase/import of the said gold.
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4 kgs of smuggled gold valued at Rs. 1,94,96,200/. and sale proceeds of smuggled gold valued at Rs 1,99,97,700/. recovered from the accused have been seized under the provisions of the Customs Act, 1962. Three persons involved in smuggling of gold have been arrested. Further investigation is in progress. (Maxim News)