<p>Mumbai: In a major swoop, the Directorate of Revenue Intelligence (DRI) has busted a major gold smuggling and melting syndicate in Mumbai with the arrest of 11 persons and seizure of 1.88 kg gold.</p><p>Codenamed Operation Bullion Blaze, the DRI operation uncovered an organised racket involved in smuggling gold into India, melting it in covert furnaces, and illicitly selling the refined bullion into the grey market.</p>.Maharashtra’s top wrestler arrested in Punjab for 'inter‑State arms smuggling'.<p>Acting on specific intelligence, the DRI officers carried simultaneous searches at four discreetly located premises in Mumbai — two illegal melting units and two unregistered shops.</p><p>Both furnaces were found fully operational, equipped with complete setups for converting smuggled gold in wax and other forms into bars. </p><p>The officers swiftly moved in, detaining the operators and recovering 6.35 kg of gold on the spot. Follow-up searches at the two shops used by the mastermind for receiving smuggled gold and selling the melted bars to local buyers, led to the recovery of an additional 5.53 kg of gold bars from one of the shops.</p><p>“In all, 11.88 kg of 24-carat gold, valued at Rs 15.05 crore, and 8.72 kg of silver worth Rs 13.17 lakh, were seized under the provisions of the Customs Act, 1962,” DRI officials said on Wednesday. </p><p>A total of 11 persons, involved in smuggling, melting, and illicit sale of gold were arrested, including the mastermind, who has a past record of gold smuggling. </p><p>The syndicate was being operated by the mastermind in connivance with his father, a manager, four hired melters, an accountant responsible for maintaining records of smuggled gold, and three delivery personnel handling its distribution. All accused were produced before the JMFC, Mumbai, and remanded to judicial custody.</p><p>Preliminary findings point to a well-orchestrated conspiracy for gold smuggling and illicit sale, in blatant violation of India’s gold import policy and aimed at defrauding government revenue.</p>
<p>Mumbai: In a major swoop, the Directorate of Revenue Intelligence (DRI) has busted a major gold smuggling and melting syndicate in Mumbai with the arrest of 11 persons and seizure of 1.88 kg gold.</p><p>Codenamed Operation Bullion Blaze, the DRI operation uncovered an organised racket involved in smuggling gold into India, melting it in covert furnaces, and illicitly selling the refined bullion into the grey market.</p>.Maharashtra’s top wrestler arrested in Punjab for 'inter‑State arms smuggling'.<p>Acting on specific intelligence, the DRI officers carried simultaneous searches at four discreetly located premises in Mumbai — two illegal melting units and two unregistered shops.</p><p>Both furnaces were found fully operational, equipped with complete setups for converting smuggled gold in wax and other forms into bars. </p><p>The officers swiftly moved in, detaining the operators and recovering 6.35 kg of gold on the spot. Follow-up searches at the two shops used by the mastermind for receiving smuggled gold and selling the melted bars to local buyers, led to the recovery of an additional 5.53 kg of gold bars from one of the shops.</p><p>“In all, 11.88 kg of 24-carat gold, valued at Rs 15.05 crore, and 8.72 kg of silver worth Rs 13.17 lakh, were seized under the provisions of the Customs Act, 1962,” DRI officials said on Wednesday. </p><p>A total of 11 persons, involved in smuggling, melting, and illicit sale of gold were arrested, including the mastermind, who has a past record of gold smuggling. </p><p>The syndicate was being operated by the mastermind in connivance with his father, a manager, four hired melters, an accountant responsible for maintaining records of smuggled gold, and three delivery personnel handling its distribution. All accused were produced before the JMFC, Mumbai, and remanded to judicial custody.</p><p>Preliminary findings point to a well-orchestrated conspiracy for gold smuggling and illicit sale, in blatant violation of India’s gold import policy and aimed at defrauding government revenue.</p>