Acting on specific intelligence, the accused were nabbed with 353 gold bars, each weighing 116-gm. The arrest was made by officials of the Directorate of Revenue Intelligence (DRI).
The gold bars, which have foreign-make impression on them, weigh about 41-kg and have been valued at Rs 12.30 crore, official sources said.
All four accused, who are natives of Kolkata, were held yesterday and are being interrogated about the source of the gold bars recovered from them, they said.
Acting on a tip-off, DRI sleuths had arrested the duo when they were on their way to Kolkata in a car from Basirhat in North 24-Parganas district, sources said.
The yellow metal was suspected to have been smuggled in from Bangladesh through the porous land border with the neighbouring country, they said.