[ad_1]
The Directorate of Revenue Intelligence (DRI) has arrested two employees of city-based jewellery firms — Ruchita Jewellers and Mahalaxmi Traders — for allegedly smuggling 12 kg gold worth Rs 6.25 crore into the town from Kolkata.
The company arrested Praveen Jain and Mahendra Gangaram Bhave from Borivali station in Mumbai on November 22, after they deboarded the prepare arriving from Kolkata. According to the DRI, the two accused carried 15 items of the yellow steel of overseas origin hidden in customised cotton jackets (bundi) underneath their shirts. The gold, in accordance with the company, has been smuggled from Bangladesh and Myanmar into India.
Investigation into the alleged smuggling racket has discovered that the two accused had been despatched to Kolkata not less than ten instances this yr to herald smuggled gold. According to the remand utility of the DRI, the two accused had been paid Rs 20,000 per journey, aside from the prepare and flight tickets, to herald gold to Mumbai. The accused have instructed the DRI that the promoters of the two firms have been dealing in smuggled gold “to increase the turnover and profit” of the businesses.
“Both the respondents (Jain and Bhave) have admitted to dealing with smuggled gold…They have admitted that they have successfully brought smuggled gold in similar fashion on several occasions in the past. Their actions have resulted in the loss of revenue to the exchequer and are threatening the economic security of the nation,” mentioned the DRI utility.
In September, the duo smuggled 6 kg gold into Mumbai, utilizing the identical route, mentioned the company. According to the DRI, Bhave has instructed the company that he knew bringing in gold with out paperwork was unlawful however he opted for it as the cash supplied by his employer for bringing in smuggled gold was good.
The two accused have instructed the company that gold smuggled from Myanmar or Bangladesh comes within the kind of biscuits to India. These are then melted at Kolkata to take away the overseas markings and offered out there on a money foundation. The courtroom has remanded Jain and Bhave to judicial custody.
© The Indian Express (P) Ltd
[ad_2]
Source hyperlink