In an intelligence operation-- code-named "Molten Metal"-- Directorate of Revenue Intelligence (DRI) on Friday apprehended four foreign nationals and seized 85.535 kg gold from their possession.
The recovered gold, totally weighing 85.535 kgs, valued at approximately Rs 42 crore, has been seized. The four foreign nationals involved in the smuggling activities have been apprehended and are being questioned, read the Ministry of Finance release.
During search operations conducted in several rented properties in Chattarpur and Gurgaon, four foreign nationals (two from South Korea and one each from China and Taiwan) were found to be using sophisticated metallurgical techniques to convert the smuggled gold in the form of 'EI' laminates into bar/cylindrical form for further distribution.
The intelligence indicated that the gold smuggled in the form of machinery parts was being melted and moulded into bar/cylinder shapes before being disposed of in the local market.
Acting upon the said intelligence, DRI officers examined an import consignment at Air Cargo Complex, Indira Gandhi International Airport, added the release.
During the examination, the consignment was found to contain electroplating machines fitted with transformers. The 'EI' laminates of the transformers were found to have been made of gold-coated with nickel, essentially to hide the identity of the gold.
Approximately 1 kg of gold was recovered from each of the 80 imported electroplating machines, read Ministry's release.
These activities were being conducted by the foreign nationals in rented farmhouses/apartments in plush localities in South Delhi and Gurgaon and extreme precautions were being taken by them to keep the illegal nature of their activities hidden even from their immediate neighbours.
( With inputs from ANI )
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