Gujarat ATS, DRI raid Ahmedabad flat, recover over 90 kg of gold; further probe on

Ahmedabad: In a joint operation, the Gujarat Anti-Terrorism Squad (ATS) and Directorate of Revenue Intelligence (DRI), Ahmedabad on Monday recovered over 90 kg gold during a raid.  

While the DRI and ATS officials were determining the actual weight and worth of the gold, they said that its value could cross Rs 100 crore based on current market value.  

Sources said that the ATS officials received intelligence input that a huge amount of gold had been smuggled in Gujarat and was hidden in a residential unit in Paldi. 

Based on the tip-off, they jointly raided the flat in Avishkar apartment located at Mahalakshmi crossroads in Paldi.

"Based on the input, we raided the house along with a team of DRI and found the gold consignment. It's a huge quantity of jewelry and biscuits which could be anything between 90 to 100 kg," ATS officials said.

The flat is said to belong to a person from Kalol in Gandhinagar who had rented it to a stock market operator identified as one Mahendra Shah and his son Megh Shah.

"The gold belongs to the father-son duo who are big time stock traders. We suspect that a large part of gold was smuggled from abroad," an ATS officer told DH.