Delhi: DRI Busts Smuggling Racket, Seizes Gold, Silver Worth Over Rs 10 Cr

New Delhi: In a major crackdown, the Directorate of Revenue Intelligence (DRI) officers busted a major gold smuggling syndicate at the Delhi Airport leading to the recovery of gold and silver worth crores. It is being said that the officials recovered 16.67 kg gold and 39.73 kg silver at Delhi’s Foreign Post Office.

An official of the DRI stated that the officials of the DRI had developed an intelligence and intercepted seven consignments of electric current and potential meters declared as current machines arrived from Hong Kong at the Foreign Post Office.

Total of 56 electric meters were recovered

“Upon examination, the said electric meters were found to be functional, having genuine populated circuit boards. However, on preliminary examination, these appeared to be unusually heavy,” the DRI official said.

The official said, the outer covers of these 56 electric meters were painted black. On scratching the black paint of these covers, white-color metal was noticed, similar to steel. However, analysis by spectrometer revealed that these covers were made of alloy of gold and silver, roughly in the ratio of 30:70.

“A total of 56 electric meters were imported in these eight consignments. 56 back covers of these electric meters contain 16.67 kg gold and 39.73 kg silver, having an approximate market value of Rs 10.66 crore have been seized,” the DRI official stated.

As per the DRI official, from the initial investigation, it appears that a well-organized syndicate was involved in the smuggling of gold. They used to alloy the gold with silver to change its colour from yellow to white. This white-colored alloy was used to manufacture the cover of electric meters and it was painted black to avoid any suspicion.

Further investigation is in progress.