Smuggled gold worth Rs 3.71 crore seized in Telangana, three held

Hyderabad: Nearly 4.7 kg smuggled gold valued at over Rs 3.71 crore was seized at Raikal Toll Plaza in Telangana and three persons were arrested in this connection, the DRI said on Saturday.

Acting upon specific intelligence regarding movement of smuggled foreign origin gold from Coimbatore, the officers of Directorate of Revenue Intelligence (DRI) , Hyderabad Zonal Unit intercepted a car at the Raikal Toll Plaza on September 27.

Investigation revealed that three people in the car were carrying the smuggled gold by concealing it in a specially made cavity below the handbrake.

Then one of them opened the secret cavity by pulling a latch beneath steering wheel and four packets containing 24 Kt gold bars/cut pieces weighing 4778.00 grams, valued at Rs 3,71,25,060 were recovered, it said.

The recovered gold along with the vehicle were seized and the three persons travelling in the car were arrested under the provisions of the Customs Act, 1962 and remanded to judicial custody, the release said adding further investigation is in progress.