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Gold smuggling racket busted in Mumbai, Rs 15 cr yellow metal seized; 11 held
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....old smuggling racket busted in Mumbai, Rs 15 cr yellow metal seized; 11 held<BR>PTI News<BR>Dated:- 12-11-2025<BR>PTI<BR>Mumbai, Nov 12 (PTI) The Directorate of Revenue Intelligence (DRI) has busted a gold smuggling syndicate, seizing the precious metal valued at Rs 15 crore and arresting 11 persons, including the "mastermind", officials said on Wednesday. Preliminary investigations suggest a wel....
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....l-planned conspiracy to smuggle gold into India and sell the refined metal in the grey market, violating import rules and evading government revenue, according to an official. DRI Mumbai Zonal unit had received information about the gold smuggling and melting syndicate being operated in Mumbai. Based on it, DRI teams carried out simultaneous searches on Monday at four locations in the city, in....
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....cluding two illegal melting units and two unregistered shops. They found a fully functional unit, where smuggled gold was being melted and converted into wax and other forms like bars, the official said. A total of 6.35 kg of gold was seized from the melting units, and those operating the furnaces were apprehended. Follow-up searches at two shops linked to the "mastermind" led to the recover....
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....y of another 5.53 kg of gold bars, the official said. In all, the DRI seized 11.88 kg of 24-carat gold valued at Rs 15.05 crore, along with 8.72 kg of silver valued at Rs 13.17 lakh, he said. The 11 arrested persons comprise the "mastermind", who is a known offender involved in previous smuggling cases, his father, a manager, four hired melters, an accountant, and three delivery persons, the o....
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....fficial said. All the accused have been produced before a court and sent to judicial custody. PTI DC GK<BR> News - Press release - PIB....