88 kg gold bars, luxury watches worth over ₹80 crore seized from locked Gujarat flat

The DRI operation also recovered 11 luxury watches, including a Patek Philippe watch studded with diamonds, and a Jacob & Co timepiece and a Frank Muller watch.

Amid the spotlight over Kannada actor Ranya Rao's gold smuggling case, the Directorate of Revenue Intelligence (DRI) conducted a search at a flat in Gujarat's Ahmedabad on March 17, recovering a whopping 88 kilograms of gold bars, and 19.66 kgs of studded jewellery.

The DRI officials said that the 88 kgs of gold bars they recovered are worth ₹80 crore. (pib.gov.in)

A team of DRI along with officers of the Gujarat Anti-Terrorism Squad (ATS) had conducted the search at a residential flat in the Paldi area.

According to a statement from the Ministry of finance, "The search led to the recovery of 87.92 kilograms of gold bars, valued at around ₹80 crores. Majority of the said gold bars bear foreign markings, indicating that these were smuggled into India."

Additionally, the 19.66 kilograms of jewellery they recovered were studded with diamonds and other precious or semi-precious stones.

"The operation also uncovered 11 luxury watches, including a Patek Philippe watch studded with diamonds, a Jacob & Co timepiece, and a Frank Muller watch," the statement added.

The ministry noted that the valuation of the recovered jewellery and luxury watches is underway. The DRI team also found cash amounting to ₹1.37 crores from the residential flat.

"The search represents a major blow to illicit activities and underscores DRI's commitment to combating economic offences, and safeguarding the integrity and sovereignty of nation," the statement said.

Further investigation into the matter is underway.

This comes in the backdrop of the debate over Ranya Rao's case. DRI officials on March 3 intercepted her at Bengaluru's Kempegowda International Airport upon her return from Dubai, carrying 14 kgs of gold bars worth ₹12.56 crores.

In another joint operation with the Indian Coast Guard (ICG) on March 7, DRI had seized 29.954 kg Hashish Oil worth ₹33 crore from a vessel sailing towards Maldives.

DRI officials had developed specific intelligence, identifying a tug vessel towing a large laden with rock boulders. The vessel had departed from Tamil Nadu's Tuticorin Old Port.

It was found that a gang-based in Tuticorin had secretly loaded considerable quantities of Hashish Oil onto the barge mid-sea.

The ICG, at the behest of the DRI, intercepted the vessel off the Kanyakumari coast and escorted it back to the Tuticorin New Port, a news agency ANI report said.

Meanwhile, officials had also nabbed the person responsible for loading the drugs onto the vessel along with his accomplice. The crew member involved in sharing the vessel's location with the gang was also caught.