DRI officers seize smuggled gold worth Rs 40 cr, arrests 4

New Delhi, Jan 7 (PTI) DRI officials have busted a trans-border gold smuggling syndicate and seized gold worth over Rs 40 crore and Rs 2.9 crore cash, the finance ministry said on Wednesday.

In a statement, the ministry said the Directorate of Revenue Intelligence (DRI) officers conducted searches at Delhi and Agartala, and unearthed a well-organised international gold smuggling syndicate operating from Dubai and Bangladesh.

The investigation has revealed that the syndicate was smuggling gold into India through the Indo-Bangladesh border with Tripura, and subsequently transporting it to Delhi through domestic cargo services with the active connivance of handlers based in Dubai, Bangladesh and local operatives running jewellery shops in Agartala.

"A total of 29.2 kg gold, valued at approx. Rs 40 crore, and cash amount of Rs 2.9 crore have been seized under the provisions of Customs Act. Further, four members of the syndicate have been arrested," the statement said. PTI JD HVA