Gold worth Rs 60 crore seized

Suspecting tax evasion,Punjab Excise and Taxation officials on Thursday seized 170 kilos of gold jewellery at Ludhiana’s Sahnewal airport that belongs to the Kerala-based Kalyan Jewellers

Written by Express News Service | Ludhiana | Published:September 21, 2013 1:06 am

Suspecting tax evasion,Punjab Excise and Taxation officials on Thursday seized 170 kilos of gold jewellery at Ludhiana’s Sahnewal airport that belongs to the Kerala-based Kalyan Jewellers. Estimated to be worth around Rs 60 crore,the consignment landed through a chartered plane.

Deputy Excise and Taxation Commissioner (DETC) Rishipal Singh confirmed that the jewellery was coming from Trichur in Kerala and Coimbatore in Tamil Nadu. He added that the company had failed to inform the department about its arrival A notice has been issued to Kalyan Jewellers. The group was set to open its 52nd store in Ludhiana on September 22.

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