Shahapur police arrested three people from Mumbai on Friday who were carrying gold bars and ornaments worth Rs 3.12 crore without documents.
Superintendent of Police Sandeep Patil said the three men: Kantilal Channalal Hawalat, Bharat Jugreja Shah and Jayesh, were detained after they were observed behaving supiciously in Dane Galli, Shahapur suburb. When searched, the three were found to have 9.62 kilogram of gold and ornaments and cash of Rs 1.74 lakh.
The men failed to produce valid documents to account for the valuables and also did not give satisfactory answers as to why they had such a large quantity of gold and cash. They also could not name customers who may have ordered the valuables. A case has been registered against them, Patil said.
Sources said many traders use different routes to smuggle gold and silver to avoid paying taxes. Payments are often settled illegally. “Earlier, a large quantity of gold recovered at the Sambra airport also had no accompanying documents,” sources explained.
Goldsmiths said traders from Mumbai often moved around with large quantities of gold and silver without documents.
Payment options are considered only after deals were made. In the event that buyers required official bills, traders would supply tax invoices, although they would be presented other payment options as well.
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