DRI seizes 20.5 kg Smuggled Gold worth Rs. 12.5 crores

DRI - Smuggled Gold - Gold - Gold Smuggling - taxscan

Directorate of Revenue Intelligence (DRI) of Chennai, in three different operations seized around 20.5 kgs of Gold, totally valued around Rs 12.5 Crore on 31st July 2023.

Based on specific intelligence that foreign origin gold is being illicitly transported from Sri Lanka through Thangachimadam, the northern coast of Ramnad, using a fishing boat, officers of the Directorate of Revenue Intelligence (DRI) maintained close surveillance.

As a result, they successfully intercepted four individuals in the vicinity of Thangachimadam’s northern coast. These individuals were believed to be involved in the smuggling operation, and the authorities suspect that the smuggled gold was intended for further distribution.

Upon conducting a thorough examination of the individuals, authorities discovered a total of approximately 9.063 kilograms of foreign origin smuggled gold, with an estimated value of around ₹5.37 crores, in their possession.

The authorities seized the recovered gold on July 31, 2023, along with the two boats that were allegedly engaged in the smuggling operation. The gold is believed to have been imported into the country illegally from Sri Lanka. Four people have been taken into custody as a result of this operation to be looked at further.

In response to specific intelligence, a separate team of DRI officials thoroughly searched an aeroplane that had just landed from Sharjah at Coimbatore International Airport on July 31, 2023.

A few people who had taken the stated flight were detained during the search. The police were able to find 5.17 kilograms of gold with an estimated worth of Rs 3.17 crores after searching and examining the passengers. In connection with this incident, two passengers were detained and later placed in judicial custody.

Six people were detained by a group of DRI officers outside the Chennai International Airport during the third operation. These people were discovered to be carrying 6.275 kilograms of gold paste, which is worth close to 3.8 crores of rupees and was being smuggled through the airport. All six suspects have been detained as a result of this operation, and an investigation is still ongoing.

In its ongoing fight against gold smuggling, DRI Chennai has so far seized around 163 KG of gold worth Rs. 97 Crores in 29 incidents, and 43 people have been detained in various locations throughout Tamilnadu since January 2023.

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