Business Standard

9 kg gold, 17 kg silver recovered in Bengal

IANS  |  Kolkata 

Over 9 kg of gold and 17.8 kg of silver, valued at Rs 2.94 crore, were seized in and three people were arrested, an said on Thursday.

Acting on a tip-off, were conducted by the officials of Directorate of (DRI) at two residential premises in West Bengal's district and a shop in Kolkata, the said.

"9.091 kg of yellow believed to be gold of foreign origin valued at over Rs 2.87 crore and 14 kg of white coloured believed to be silver of foreign origin valued at Rs. 4.20 lakh were recovered from the residential premise of and residence of alias Mahadeo," DRI said.

Both of them were arrested and one more person, who was introduced by Panase as his business partner, was also apprehended.

In a follow-up based on the preliminary interrogation, another was carried out at a shop from where 3.8 kg of silver granules of foreign origin and nearly 46 gm of yellow coloured metallic cut pieces of assorted sizes believed to be gold of foreign origin, valued at Rs 1.45 lakh were recovered.

A cash amount of 1.12 crore was also seized from the shop on suspicion that they were sale proceeds of illegally imported gold and silver, the official said.

The accused admitted gold bars bearing foreign markings recovered from their possession were smuggled into from Nepal, the investigation agency said.

--IANS

bdc/prs

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

First Published: Thu, October 11 2018. 20:26 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU