Coimbatore

Poll surveillance team seizes gold worth over ₹48 cr

A surveillance team in the Singanallur Assembly segment of the Coimbatore Parliamentary constituency on Friday night seized 149 gold bars, each weighing a kg, from four persons in Puliakulam.

According to sources, the team seized the bars near Meena Estate from the persons who claimed that they carried the gold from a “state trading corporation” in Chennai to be supplied to seven jewellery manufacturing units in Coimbatore.

The sources identified one of the persons as Venkatesan of Chennai and said one of the four appeared to be a security personnel as he carried a gun. They carried the gold in a vehicle from Chennai.

The sources also said that the persons furnished documents for the gold bars but the quantity they carried was more than what was mentioned in the documents.

As the value of the bars was high -- ₹48.65 crore -- they informed the Income Tax Department Directorate of Revenue Intelligence and the Enforcement Directorate, who would take over the investigation and the task of ascertaining the authenticity of the documents. Meanwhile, the surveillance team deposited the gold in the district treasury.

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Printable version | Jun 4, 2020 2:59:00 PM | https://www.thehindu.com/news/cities/Coimbatore/poll-surveillance-team-seizes-gold-worth-over-48-cr/article26751264.ece

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