The DRI has arrested three persons in connection with the matter.
Based on a specific intelligence, the DRI officers monitored the coastal region and intercepted a Honda Civic car on the East Coast Road.
A couple, who owned the vehicle, as well as their driver, admitted to have received smuggled gold, which was brought from Sri Lanka by boat.
On searching the vehicle, the officers recovered and seized Rs. 2.99 crore worth gold bars, which weigh 10.84 kg.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)