The officials of Directorate of Revenue Intelligence (DRI) have busted a gold smuggling racket and have nabbed five persons allegedly involved in the case. The gold was being smuggled to Madhya Pradesh in a car. The agency has seized three kilograms of gold bars worth Rs 1.58 crore.
Those arrested have been identified as Vaibhav Jain, Vishal Jain, Dhiraj Rai Shankar Yadav and one Mukesh Valecha, a resident of Ulhasnagar.
According to the DRI officials, they had received specific information that gold would be smuggled from Ulhasnagar and would be brought to Madhya Pradesh. A car was then intercepted at Sonway Toll Plaza near Indore on Tuesday by the DRI Indore Unit's team. The officials then recovered and seized gold bars worth Rs 1.58 crore from the car.
"Four persons were caught at the time of the seizure of gold. Vishal and Vaibhav had claimed in their statement that they had procured the gold from Valecha. Valecha was then arrested and was produced before the court on Thursday. The court then remanded him to judicial custody till April 16," said a DRI official.
