DRI sleuths seize 5Kg gold valued at Rs 2 crore

DRI sleuths seize 5Kg gold valued at Rs 2 crore in Mangaluru

Representative image. (Reuters photo)

One of the biggest seizure of gold in this decade in Mangaluru, sleuths attached to Directorate of Revenue Intelligence (DRI) seized five kg of gold valued at Rs two crores at the Air Cargo Complex in Mangaluru on Tuesday.

Acting on a tip-off, sleuths from DRI, Bengaluru and Mangaluru during a co-ordinated effort busted a unique modus operandi of smuggling of gold through the Air Cargo Complex.

DRI Deputy Director Shreyas K M said the smuggled gold was concealed in five metal sprockets which were imported by M/s Swaroop Mineral Pvt Ltd of Udupi in the name of “mining conveyor drive chain”. The gold was deftly concealed inside the heavy metal sprockets by way of a groove and gave only a slight hint of tampering on physical examination.

The scanning of the said wheels added to the suspicion and finally, the officers could retrieve the gold with the help of a local mechanic and lathe machine at Bajpe. On examination by the authorised Jeweller, five-round plates were found weighing 4995 grams (after deducting the weight of aluminium coating).

The gold was found to be of 24 Karat purity and their current market value is Rs 2 crore. The contraband gold was later seized by the DRI under the provisions of Customs Act, 1962. The active director of M/s Swaroop Mineral Resources Manohar Kumar Poojari involved in the case was arrested at Bengaluru by DRI Bengaluru. Lohith Shriyan, from Ashoknagar entrusted with the logistics of smuggling, was also arrested by DRI Mangaluru.

"Further investigation is on to unearth details about other members involved in the racket," sources in DRI added.

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