Mumbai: DRI Busts Gold Smuggling Syndicate, 4 Held; ₹6 Crore Bullion And ₹3.71 Crore Cash Seized

Mumbai, April 14, 2026: The officers of Directorate of Revenue Intelligence (DRI) have busted a gold smuggling syndicate and have arrested four persons on Tuesday. The officers have also seized gold and silver valued at around Rs 6 crore and cash approximately Rs 3.71 crore during the operation.

Four accused arrested

Those arrested have been identified as Madanpura residents M.I. Damudi (19), his brother I.A. Damudi (19), their father A.S. Damudi (60), and Kalbadevi resident C. Lal (32).

"My clients have been falsely implicated they r genuine businessmen, they will show proof of the goods possessed by them," said defence advocate Ravi Hirani.

DRI acts on specific intelligence

According to DRI sources, specific intelligence was developed that two persons, M.I. Damudi and I.A. Damudi, involved in gold smuggling, were going to deliver a consignment of smuggled gold at a shop at Dhanji Street, Kalbadevi.

Based on the said intelligence, a vigil was set by the DRI officers at the said spot, and the suspect duo were identified and intercepted while entering the shop on Monday.

Gold, silver and cash seized

Upon enquiring, the accused duo said they were carrying smuggled gold of foreign origin in cut pieces and bar form, which they intended to sell to C. Lal.

During the search of Lal's shop, the DRI officers recovered cash Rs 39.50 lakh, 3,540.27 grams of gold provisionally valued at Rs 5.50 crore, and 18,827 grams silver provisionally valued at Rs 46.69 lakh.

Search at residence reveals more cash

"Further, the silver and the cash recovered from the premises were seized under a reasonable belief that the same are part of the sale proceeds of the smuggled gold. A search was also conducted at the residence of A.S. Damudi at Madanpura. During the search proceedings, huge bundles of Indian currency totaling Rs 3.31 crore were recovered. Also, items such as cash counting machines, a gold weighing machine, and a gold bar cutter were found at his home. Further, a notebook containing some accounting details suspected to be related to smuggled gold transactions was also found and recovered. Upon inquiry about the transactions mentioned in the said notebook, no satisfactory explanation or document was provided by Damudi," said a DRI source.

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Probe into wider network continues

"Upon enquiry, Damudi further stated that he received Rs 3 crore as an advance for the supply of 2 kg of smuggled foreign-marked gold by C. Lal, and the other cash recovered from his premises is related to the sale proceeds of his past smuggling transactions. Other key members of the syndicate are yet to be apprehended, and all-out efforts are being made in this regard. Further, sources for the purchase of the foreign currency are yet to be investigated."

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