New Delhi: A total of Rs 2.60 crore in cash and 95 kg of gold and silver have been seized and four persons have been arrested by the Directorate of Revenue Intelligence (DRI) in connection with its probe into alleged diversion of duty free gold worth about Rs 140 crore, imported under a special concession scheme, by a firm operating from a Noida-based SEZ.
The DRI sleuths from Lucknow zonal unit carried out the searches for two days on the premises of M/s Shri Lal Mahal Limited and the residences of company officials as part of their anti-black money operations after demonetisation, the agency said in a
Four people associated with the firm were arrested late evening after questioning, a DRI official said. “It is found that the unit has illegally diverted and sold 430 kg (valued at about Rs 140 crore) of duty free gold in the market. Cash amounting to Rs 2.60 crore (Rs 2.48 crore in old currency notes, and Rs 12 lakh in new notes) has been seized.”
“80 kg of unaccounted silver was found in the factory. Further, 15 kg of gold jewellery has been seized from the premises of the firm,” the statement added.
The DRI alleged that the firm had also “transferred huge amounts of money through RTGS (funds transfer through banking
channels) to a firm operating from their premises to purchase gold coins or bars of 24kg after 8 November (the day Rs 1,000 and Rs 500 notes were demonetised) from MMTC, India’s largest public sector trading body, also to sell in the market for old
Earlier, the agency had said that directors of the firm were either admitted to the hospital or were avoiding investigations, and as a result, two persons had been detained for questioning.
First Published On : Dec 24, 2016 21:49 IST