Ahmedabad:
A man has been arrested for allegedly smuggling 35 kg of gold into country by mixing the yellow metal with silver.
The Directorate of Revenue Intelligence (DRI) arrested Sanjay Patel (40), a resident of Khambhat in Anand district and a gemologist, yesterday after he surrendered.
"He used to mix silver with gold bars before melting it.
Later, he covered it with soil, cement and colours to give it a natural look of gold ore. He was arrested yesterday and produced in court today," a DRI official said.
The cost of the smuggled gold in international markets is around Rs 10.50 crore, sources said.
DRI sources said that it is for the first time that anybody has been arrested trying to smuggle gold in this manner.
Sources said that Patel wanted to spread his network across the country and had received an order for one kg gold from a jeweller in Indore.
Search operations carried out at the jeweller's place in Indore, yielded nothing, though the jeweller is absconding, sources said.
DRI officials said that statements of those who assisted him have also been recorded.
"The gold has been seized," he said.
There were no previous cases lodged against him and he allegedly indulged in the act since curbs were imposed on gold import.
To contain rising gold import, the government had increased customs duty on the yellow metal in 2013, which currently stands at 10 per cent.
The Directorate of Revenue Intelligence (DRI) arrested Sanjay Patel (40), a resident of Khambhat in Anand district and a gemologist, yesterday after he surrendered.
"He used to mix silver with gold bars before melting it.
Later, he covered it with soil, cement and colours to give it a natural look of gold ore. He was arrested yesterday and produced in court today," a DRI official said.
The cost of the smuggled gold in international markets is around Rs 10.50 crore, sources said.
DRI sources said that it is for the first time that anybody has been arrested trying to smuggle gold in this manner.
Sources said that Patel wanted to spread his network across the country and had received an order for one kg gold from a jeweller in Indore.
Search operations carried out at the jeweller's place in Indore, yielded nothing, though the jeweller is absconding, sources said.
DRI officials said that statements of those who assisted him have also been recorded.
"The gold has been seized," he said.
There were no previous cases lodged against him and he allegedly indulged in the act since curbs were imposed on gold import.
To contain rising gold import, the government had increased customs duty on the yellow metal in 2013, which currently stands at 10 per cent.
Track Latest News Live on NDTV.com and get news updates from India and around the world
