Noida SEZ: DRI seizes Rs 2.6 cr in cash, 95 kg gold, silver

Further, 15 kg of gold jewellery has been seized from the premises of the firm," the statement added.

By: PTI | New Delhi | Published: December 24, 2016 8:04 pm
Noida notes seized, new notes seized, DRI seize cash, new currency seized, gold seized, M/s Shri Lal Mahal Limited, DRI lucknow, indian express news Photo for representational purpose.

The DRI has seized Rs 2.60 crore cash, including Rs 12 lakh in new notes, and 95 kg of gold and silver 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.  Sleuths of the Directorate of Revenue Intelligence’s zonal unit in Lucknow 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 its anti-black money operations after demonetisation, the agency said in a statement.

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“It is found that the unit has illegally diverted and sold 430kg (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. Unaccounted 80kg of silver found in the factory has also been recovered. 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 amount of money through RTGS (funds transfer through banking channels) to one firm operating from their premises to purchase gold coins or bars of 24kg after November 8 (the day Rs 1000/Rs 500 were demonetised) from MMTC, India’s largest public sector trading body, also to sell their as well as this gold in the market in lieu of old demonetised currency”. The agency said, “While directors of the firm are either admitted in hospital or avoiding investigations, two persons have been detained for questioning.”

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  1. S
    Satendra kumar
    Dec 24, 2016 at 9:38 pm
    The central government new method of doping werebout of hidden or unaccounted black money and bullions of gold treasures that needs to be declared to the ministry of ffinance and monetary department has been a great success.I hope this programme should run permanently.
    1. A
      Dec 24, 2016 at 3:52 pm
      Its all fekult;br/gt;He did thislt;br/gt;He created pollution tooo, to discredit Aap.
      1. kris kumar
        Dec 24, 2016 at 3:41 pm
        Corrupts are being caught slowly and slowly but there must be a large number of professional chors who have evaded the net. I hope the government catches them before they hide all the loots.
        1. M
          Munzir Baig
          Dec 24, 2016 at 7:14 pm
          Gupta set your house first
          1. Shyamal Ganguly
            Dec 25, 2016 at 12:00 am
            Muslims have homeland in stan. They are traitors and do not belong in India.
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