An ingenious attempt by a Chennai-based gold jeweller to smuggle imported gold after erasing the original mark proved futile.
The jeweller was arrested by the directorate of revenue intelligence (DRI) officials on Tuesday and gold pieces valued at Rs. 4.60 crore were seized.
According to DRI sources, the jeweller imported 15.16 kg of gold bars from Bangladesh and sent them to a goldsmith in Kolkata.
The jeweller asked the goldsmith to cut the bars into small pieces and as directed, the goldsmith cut them into 296 pieces.
On Monday, the jeweller went to Kolkata with an authorisation letter, stating that the gold pieces were meant for a jeweller in Chennai and the letter-bearer was authorised by the jewellery merchant to bring it to the city.
As there was a demand for gold in the market due to the festive season, the Chennai-based jeweller smuggled the gold bars by cutting them into pieces.
In order to remove any traces of their import, the original seal was erased.
The DRI authorities conducted enquiries with the Chennai-based jeweller and with the goldsmith in Kolkata.
DRI sources said two cases were already pending against the Chennai-based gold jeweller whose annual turnover is more than Rs. 1,000 crore. Further investigation is on.
