BHUBANESWAR: Directorate of Revenue Intelligence (DRI) arrested a businessman from the state capital and reportedly seized smuggled gold biscuits amounting to around `1.5 crore from his possession. Acting on a tip-off, DRI’s Odisha unit officers nabbed the man and seized at least 19 foreign-marked gold bars weighing 2.465 kg. Each bar weighs around 10 tola (one tola is equal to 11.66 gram), said sources. The gold was smuggled into the country and the accused was arrested under the Customs Act, said the DRI.
The seized gold bars bear different foreign hallmarks like Suisse, UBS, and others. The gold bars were manufactured by foreign refiners. When gold bars are brought into the country, an import duty must be paid. Only banks and other nominated agencies are permitted to import the bullion bars, said sources.
Sources said the accused is a native of Odisha. Asked whether the smuggled biscuits were being transported to any jewellery store in Cuttack, DRI sources said it was too early to confirm the source and if the gold was supposed to be handed over to some other person in Odisha or outside. DRI did not reveal the identity of the accused.
“Investigation is underway and further action will be taken accordingly. A close watch is being kept at the borders of Odisha and at airports to ensure smuggling of gold does not take place,” said a DRI officer.
In October 2019, DRI had seized around 13 kg smuggled foreign gold biscuits worth around `4.99 crore from two passengers travelling in a train.