DRI busts gold smuggling racket in Mumbai seizes items worth Rs 19.6 crore

Mumbai, Dec 10 (PTI) The Directorate of Revenue Intelligence (DRI) busted a gold extraction and refining facility in Mumbai used for melting smuggled yellow metal, and seized gold, silver and cash worth Rs 19.6 crore, officials said on Tuesday.
The agency also arrested the mastermind of the racket, an official said.
"Based on specific intelligence, the officers of the DRI's Mumbai zonal unit conducted searches at three related locations in Mumbai. During the searches, they found that a gold extraction and refining facility was being used for melting smuggled gold," he said.
Search operations led to recovery of 23.92 kg gold in bar and melted form along with foreign-marked gold, 37 kg silver and Rs 5.40 lakh cash, the DRI said in a statement.
The mastermind of the syndicate was arrested after recording statements of workers and helpers, it said.
The seized gold appeared to be smuggled as the mastermind could not explain the source of gold nor did he maintain any documentary records, it said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)