The gold is valued at about Rs 6.47 crore and has foreign markings. (Representational image)
New Delhi:
In a major haul, over 20 kg of gold and cash of Rs 6.44 crore have been seized from a shop of an old Delhi-based trader by Directorate of Revenue Intelligence (DRI).
Acting on inputs, the DRI officials conducted searches at the shop of the trader and found 20.64 kgs of gold. The yellow metal was in the form of the 20 gold bars weighing 1 kg each.
The remaining gold was in small pieces, a DRI statement issued today said.
The gold, which is valued at about Rs 6.47 crore, is of foreign markings and of 995 purity, it said.
"Searches also resulted in recovery of Rs 6.44 crore of Indian currency notes, being the sale proceeds of smuggled gold. The total value of the seizure is about Rs 12.91 crore. Two persons have been arrested and remanded to judicial custody. Further investigation is in progress," the statement said.
The DRI officials, who conducted the searches on Friday, arrested the trader and a carrier when they were allegedly trying to sell off more gold, official sources said.
DRI continues with its drive against smuggling and black money and has achieved significant results in the recent past.
Last month, the Delhi Zonal Unit of DRI had made a record detection of smuggling of gold of about 7,000 Kg, valued at about Rs 2,000 crore and had arrested two persons.
The main kingpin has also been detained under the stringent Conservation of Foreign Exchange and Prevention of Smuggling Act (Cofeposa), 1974.
Under Cofeposa, a person can be detained for a continuous period of one year.
Acting on inputs, the DRI officials conducted searches at the shop of the trader and found 20.64 kgs of gold. The yellow metal was in the form of the 20 gold bars weighing 1 kg each.
The remaining gold was in small pieces, a DRI statement issued today said.
The gold, which is valued at about Rs 6.47 crore, is of foreign markings and of 995 purity, it said.
"Searches also resulted in recovery of Rs 6.44 crore of Indian currency notes, being the sale proceeds of smuggled gold. The total value of the seizure is about Rs 12.91 crore. Two persons have been arrested and remanded to judicial custody. Further investigation is in progress," the statement said.
The DRI officials, who conducted the searches on Friday, arrested the trader and a carrier when they were allegedly trying to sell off more gold, official sources said.
DRI continues with its drive against smuggling and black money and has achieved significant results in the recent past.
Last month, the Delhi Zonal Unit of DRI had made a record detection of smuggling of gold of about 7,000 Kg, valued at about Rs 2,000 crore and had arrested two persons.
The main kingpin has also been detained under the stringent Conservation of Foreign Exchange and Prevention of Smuggling Act (Cofeposa), 1974.
Under Cofeposa, a person can be detained for a continuous period of one year.
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