Andhra: 2 arrested with almost 9 kg gold, worth Rs 3.18 cr

Acting on a tip-off, the special task force of the police nabbed two persons who were illegally transporting almost 9 kilograms of gold worth Rs 3.18 crore in the market.

The two accused were identified as Jayesh Jain (48) Mumbai and P Srinivas Rao (42) of Vijayawada.

"The task force police got information on the movements of two persons. Upon searching the two accused were traced at Ibrahimpatnam ring road, at a bus stop towards Vijayawada, in a suspicious condition. The task force police detained the two accused and seized gold kept in two bags from them. 8.861 kilograms worth of gold whose market value is around Rs 3.18 crores was seized from the two," the Taskforce ACP VSN Verma told reporters here.

The task force handed over the accused and seized material, as the two could not produce bills for the gold, to Ibrahimpatnam police station and also informed the Income Tax (IT) department about the matter.

Further investigation is underway.