Overview
- DRI teams carried out simultaneous searches on Monday at Kalbadevi, Mazgaon and an office on Mumbadevi Road, exposing two illegal melting units and two linked shops.
- Officers seized 11.88 kg of 24-carat gold worth about Rs 15.05 crore, including 6.35 kg from the melting units and 5.53 kg from the shops, plus 8.72 kg of silver.
- Eleven suspects were arrested, among them an alleged mastermind with prior cases, his father, a manager, four hired melters, an accountant and three delivery personnel, and all are in judicial custody.
- According to the agency, the syndicate brought in gold concealed in egg-shaped capsules containing gold dust mixed with wax or paste, then melted it into bars or wax for sale in the local market.
- The DRI estimates duty evasion at roughly Rs 5.27 crore and is widening the probe to follow the money trail, identify buyers and financiers, locate hawala operators, and examine possible foreign involvement.