NEW DELHI: In an intelligence operation by the Directorate of Revenue Intelligence (DRI), code-named 'Molten Metal', several Indian and foreign (Chinese, Taiwanese, and South-Korean) nationals suspected to be indulging in smuggling gold into India from Hong Kong using the air cargo route, were identified.
A consignment of the same was seized from the Air Cargo Complex, Indira Gandhi International (IGI) Airport, the DRI said in a statement on Friday.
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, it said. "Gold, weighing 85.535 kg, valued at approximately Rs 42 crore, has been seized. Four foreign nationals involved in the smuggling activities have been apprehended and are being questioned. While questioning it was revealed the two foreign nationals had stuck up a close relationship when they were previously behind bars for offenses of gold smuggling," it said.
During the examination at the IGI airport, 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, to hide the identity of the gold.
"Approximately, 1 kg of gold was recovered from each of the 80 imported electroplating machines," it said. "Foreign nationals were conducting these activities from rented farmhouses/apartments in plush South Delhi and Gurgaon localities, with extreme precautions," it said.