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21 kg gold, Rs 6.44 cr cash seized from shop in old Delhi

IANS  |  New Delhi 

Continuing its drive against smuggling and black money, the government here on Monday seized as much as 21 kg of gold and Rs 6.44 crore in currency notes from a shop in old Delhi, officials said.

The gold, seized by the Zonal Unit (DZU) of the Directorate of Revenue Intelligence (DRI), is valued at about Rs 6.47 crore, of which 20 bars are of one kg each with foreign markings and of 995 purity. The Rs 6.44 crore in currency notes were stated to be the sale proceeds of smuggled gold, the Finance Ministry said in a statement.

"The total value of the seizure is about Rs 12.91 crore," it added.

Two persons have been arrested and remanded to judicial custody and further investigation is in progress, it said.

Last month, the Zonal Unit of DRI had made a record detection of smuggling of gold of about 7,000 kg, valued at about Rs 2,000 crore and had arrested two persons.

"The main kingpin in the smuggling has been detained under the Conservation of Foreign Exchange and Prevention of Smuggling Act (COFEPOSA), 1974," the statement added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 17 2016. 19:00 IST