DRI sleuths seize 4-kg gold worth Rs 1.57 crore; 3 arrested

Hyderabad: The Directorate of Revenue Intelligence (DRI) sleuths searched a residential house at East Marredpally in Secunderabad on Thursday and seized 4 kilograms of smuggled gold worth Rs 1.57 crore.

The DRI officials found 40 pieces of gold in green coloured bag kept in a vehicle parked inside the residential premises.

Along with the gold, the DRI also found Rs 1.99 crore net cash in another car parked in the same premises. The accused got money after selling the smuggled gold.

After investigation, it was ascertained that two persons travelled from Calicut via Mysore to Hyderabad and were carrying the smuggled gold concealed in a compartment beneath the handbrake of the car which was created exclusively to smuggle gold and money.

On interrogation, the accused admitted that the gold was smuggled into the country and they did not have any valid documents to prove that the gold was not smuggled.

The three accused have been arrested and charged under provisions of the Customs Act, 1962.