DRI seizes Gold worth Rs 1.07 cr: Two held in AP

The sleuths of Directorate of Revenue Intelligence (DRI) have arrested two persons and seized 1.86 kgs of gold, worth Rs 1.07 crore in Visakhapatnam of Andhra Pradesh.

Based on specific intelligence about gold smuggling, DRI sleuths from Visakhapatnam Regional Unit intercepted 2 persons, including a gold smuggler who arrived from Kolkata by Shalimar-Secunderabad AC Superfast Express (Train No.12773) at Visakhapatnam Railway Station, and his employer who came to the railway platform to receive the smuggled gold, in the early hours of January 5.

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After thorough verification, 1860.5 Grams of Smuggled Gold (in the form of bars, pieces) valued at Rs.1.07 crores were seized, a DRI statement here said on Saturday.

Further searches were conducted at the residence and gold shop of the proprietor, where certain incriminating material was found.

Preliminary investigation revealed that this smuggled gold is routed from Bangladesh and is melted & recast into gold bars/pieces of different shapes and sizes in Kolkata for further supply.

Two persons have been arrested under the provisions of Customs Act, 1962. They have been remanded to judicial custody and lodged in Central Prison, Visakhapatnam on Friday.

Further investigation is in progress, the statement added.