The Directorate of Revenue Intelligence (DRI) has seized 4 kilograms of smuggled gold and about Rs 2 crores of sale proceeds of smuggled gold from a residential premises, the officials said on Saturday.
"On November 21, a DRI team searched a residential premise in Secunderabad based on specific intelligence and found 40 pieces of smuggled gold in a green colour bag kept in a vehicle parked inside the premises," the officials said in a release.
Moreover, Rs 1.99 crores of sale proceeds of smuggled gold were found in another car parked in the same premises.
"During the inquiry, it was found that two persons, travelling in a car from Calicut via Mysore to Hyderabad, were carrying smuggled gold concealed in a clandestine compartment beneath the hand brake," read the release.
The total weight of the smuggled gold is around 4 kilograms and the accused couldn't produce any legal documents to prove the licit purchase of the gold, the officials said.
A case has been registered under relevant sections of the Indian Penal Code (IPC). An investigation in this regard is underway.
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