DRI seizes 21 kg gold, over Rs 6 crore of Indian currency notes

The Delhi Zonal Unit (DZU) of the Directorate of Revenue Intelligence (DRI) seized 20.64 kilograms gold and Rs 6.44 crores of Indian currency notes from a shop owned by Rajesh Gupta in the old Delhi area. DRI sources said to DNA that a trader Pankaj Kumar Singh has sold the smuggled gold to Rajesh Gupta. Both have been arrested by DRI.

The gold is valued at about Rs 6.47 crore, of which 20 bars are of 1 kg each with foreign markings and of 995 purity. Searches also resulted in recovery of Rs 6.44 crore of Indian currency notes, being the sale proceeds of smuggled gold.

The total value of the seizure is about Rs 12.91 crore. Two persons have been arrested and remanded to judicial custody. Further investigations are in progress.

DRI continues with its drive against smuggling and black money and has achieved significant results in the recent past. Last month, the Delhi Zonal Unit of DRI had made a record detection of the smuggling of gold of about 7,000 kilograms, valued at about Rs 2,000 crore and had arrested two persons.

The main kingpin has also been detained under the Conservation of Foreign Exchange and the Prevention of Smuggling Act.