Hyderabad: The officials of Directorate of Revenue Intelligence (DRI) officials, Hyderabad searched a residential premises on Thursday as they found 4 kgs of smuggled gold worth Rs 1,94,96,200/- and Rs 1.99 crore of sale proceeds of smuggled gold in different vehicles in the same premises at East Marredpally, Secunderabad.
The DRI sleuths seized 40 pieces of smuggled gold in a green coloured bag kept in a vehicle parked inside the premises.
Upon enquiries, it was found that two people travelled in a car from Calicut via Mysuru to Hyderabad and were carrying smuggled gold concealed in clandestine compartment beneath the hand brake created exclusively to carry gold and money.
The sale proceeds of smuggled goods valued at Rs 1,99,97,700/- have been seized under the provisions of the Custom Act, 1962. Three people involved in smuggling of gold have been arrested as further investigation is in progress.