Over 10.5 kg of smuggled gold and Rs 1.74 crore in cash were seized from three places in the city and four persons were arrested by the Directorate of Revenue Intelligence, an official statement said on Wednesday.
Acting on a tip-off, DRI officers searched an office and a godown in Burra Bazar area and the residence of one Rajendra Damani alias Raju Damani.
"They seized around 10.5 kg of foreign-origin gold bars, along with silver granules, gold coins and the cash from these premises," the statement said.
Damani was among the four arrested on Tuesday. The accused allegedly admitted that the seized gold was smuggled while the cash was proceeds from counterfeit gold sold earlier.
The statement said that a person who arrived at the godown to take delivery of the contraband during the raid was found to be wearing a specially-made jacket under his shirt wherein Rs 15 lakh was hidden.
--IANS
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