DRI officials held four, seized Rs 1.38 cr worth smuggled gold in Hyderabad
The officials of Directorate of Revenue Intelligence (DRI) Hyderabad Zonal unit have arrested four persons and seized Rs 1.38 Crore worth gold
Hyderabad: The officials of Directorate of Revenue Intelligence (DRI) Hyderabad Zonal unit have arrested four persons and seized Rs 1.38 Crore worth gold weighing 3099 grams from their possession at Raikal Toll Plaza on the outskirts of Hyderabad on Monday.
According to officials, the raid was initiated over the intelligence information that four persons traveling to Hyderabad by road along the Bengaluru-Hyderabad Highway would be carrying smuggled gold of foreign origin.
Later, they intercepted one person traveling by a private bus at the Toll Plaza and then caught three more persons who were traveling by a private cab.
The four persons were carrying a total of 31 pieces of foreign-origin gold bars weighing 3099 grams valued at Rs 1.38 crore. The officials found that they were carrying the smuggled gold of foreign origin without any documents and they further admitted that the gold was smuggled in exchange for financial consideration. The officials by seizing the smuggled gold and arresting the four under the provisions of the Customs Act, 1962 are investigating.