Gold jewellery and diamonds worth Rs 4.16 crore were seized from two Mumbai-based men at the Chandigarh international airport on Monday.
The duo, Neeraj Bakulesh Jhaveri and Rushang Ramesh Mehta, were carrying diamond-studded gold jewellery along with cut and polished diamonds, worth Rs 4.16 crores, "without mandatory documents", officials of the Punjab Excise and Taxation Department said here.
The accused, however, said they had brought the jewellery and the diamonds to show them to a leading jeweller based in Mohali, they said.
The department has issued a notice to the erring persons under Section 129 of the SGST/CGST Act, officials said, adding that further investigations were underway.
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