Mumbai News: DRI Busts Major Smuggled Gold Melting Facility In ‘Operation Alchemist’, Seizes Gold Worth ₹8.93 Crore, 7 Arrested

Mumbai: In a meticulously executed operation codenamed “Operation Alchemist,” the Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, busted a major illicit gold melting facility involved in processing of gold smuggled from Dubai into India via carrier passengers recruited by an organized syndicate. In total, seven individuals have been apprehended. The seized gold, valued at Rs 8.93 crore has been seized, officials said on Monday.

"During the operation, two individuals coming out of the identified melting facility were intercepted, and 8.74 kg of gold in bar form was recovered from their possession. A prompt search of the facility led to the apprehension of two operators actively engaged in converting the smuggled gold into bars. Investigations revealed that 18 egg-shaped capsules containing gold had been smuggled into India earlier the same day through CSMI Airport, Mumbai. These capsules were melted down at the facility into six bars, cumulatively weighing 8.74 kg," said a DRI official.

Follow-up operations resulted in the apprehension of two additional individuals involved in collecting the smuggled capsules, along with the key person managing the melting operations. "In total, seven individuals have been apprehended. The seized gold, valued at Rs 8.93 crore, has been seized under Customs Act, and all seven accused have been placed under arrest," the official said.

"This successful operation highlights DRI’s continued resolve to combat gold smuggling and safeguard India’s economic interests. DRI remains committed to upholding the rule of law and ensuring vigilant enforcement against smugglers and their perpetrators," said the official.