New Delhi: The Directorate of Revenue Intelligence (DRI) has busted a smuggling racket and seized gold worth Rs 7.54 crore from a man it arrested at the New Delhi Railway Station, a senior DRI official said today.
Acting on intel, the DRI officials intercepted the 33- year-old man, a resident of Dariyaganj area here, at the station yesterday, the official said, requesting anonymity.
About 25.8 kgs of gold, valued at Rs 7.54 crore, were recovered from him, he said.
During investigation the accused confessed to have received the smuggled gold at Birtanagar in Nepal. After receiving the consignment he crossed over into India through the Jogbani-Birtanagar border, the official said.
The DRI investigation revealed that a major proportion of the gold is being smuggled into India through the land borders with the neighbouring countries, he said.
The DRI suspected the involvement of several other people in the smuggling ring.
The agency has seized 340 kgs of gold, valued at Rs 95 crore, so far in this fiscal.
Since gold is not manufactured in Nepal, trends indicate that the yellow metal is smuggled into Nepal from other countries through their land borders.
This is then smuggled by syndicates from Nepal into India, the DRI official said.