Over 58 kg of gold biscuits and bars were seized from 12 people.
In a big haul, the Directorate of Revenue Intelligence (DRI) on Saturday nabbed 12 persons, including a woman, and seized gold worth over Rs 18 crore from the city.
Acting on a tip-off, DRI officials raided a guest house in the city's Burrabazar area where the accused, mostly from Manipur and Mizoram, had checked in.
They had assembled in the city to sell off the precious metal to city-based traders.
The sleuths seized over 58 kg of gold biscuits and bars which was smuggled into the country from Myanmar. The value of the gold has been ascertained to be Rs 18.33 crore.
All the accused were presented before a city court that remanded them to judicial custody till August 24.