MUMBAI: The Mumbai unit of the Directorate of Revenue Intelligence (DRI) has busted a clandestine gold-melting facility in the city, arrested two alleged members of a smuggling syndicate, and seized foreign-origin gold worth ₹9.22 crore.
Acting on tip-offs, DRI officials on Monday raided the illegal melting unit located in Zaveri Bazaar, south Mumbai, a prominent jewellery market. During the operation, around 5.8 kg of smuggled gold was seized from the accused, officials said on Tuesday.
The operation was part of a crackdown, internally dubbed Operation Gold Meltdown, launched after inputs about the movement and processing of smuggled gold in the city. DRI officers traced the illicit facility and arrested two people under provisions of the Custom’s Act and their questioning led to the recovery of the gold.
Investigations revealed that the gold had been smuggled into India in wax form, packed into capsules and carried by passengers recruited by the syndicate through Mumbai’s international airport.
Subsequent searches at the melting facility led to the recovery of record books detailing smuggled gold transactions and sale proceeds, melting and casting equipment, foreign bullion marking dyes, and currency notes used as tokens for illegal receipt and delivery of gold.
“It was an intelligence-driven operation conducted by DRI to dismantle an organised gold smuggling network. Such operations are conducted to safeguard the nation’s economic and fiscal interests,” a DRI official said.