Mumbai (Maharashtra) [India], February 10 : The Mumbai Zonal Unit of Directorate of Revenue Intelligence (DRI) has busted a gold melting syndicate in the city, seizing 5.8 kilograms of smuggled gold worth Rs 9.22 crore and arresting two key members of the network under the Customs Act, 1962, officials said.
The operation, codenamed "Operation Gold Meltdown", was launched based on specific intelligence on the movement and processing of illicit gold in the Zaveri Bazar area. DRI officers conducted discreet surveillance and successfully traced a clandestine gold melting facility. During the operation, two individuals were intercepted, and 5.8 kg of gold was recovered from their possession.
"Under an operation codenamed "Operation Gold Meltdown", the Directorate of Revenue Intelligence, Mumbai Zonal Unit, busted a clandestine gold melting facility engaged in processing of smuggled gold and seized approximately 5.8 kg of gold valued at Rs 9.22 crore in the Zaveri Bazar area of Mumbai. Two key members of the smuggling syndicate have been arrested under the provisions of the Customs Act, 1962," DRI said in its release.
Acting on specific intelligence regarding the movement and processing of smuggled gold, DRI officers mounted discreet surveillance and traced the illicit melting unit. During the operation, two individuals were intercepted, leading to the recovery of 5.8 kg of gold from their possession.
Further investigation revealed that the seized gold had been smuggled into India in wax capsule form via Chhatrapati Shivaji Maharaj International (CSMI) Airport, Mumbai, with passengers recruited by the syndicate.
A subsequent search of the linked melting facility led to the recovery of record books documenting smuggled gold transactions and sale proceeds.
The DRI also recovered melting and casting equipment, currency notes used as tokens for illegal receipt and delivery of smuggled gold, and foreign bullion marking dies used to convert smuggled gold into bars with foreign markings.
Officials said the DRI continues to execute intelligence-driven operations to dismantle organised gold smuggling networks and safeguard the nation's economic and fiscal interests.
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