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Containers with silver worth Rs 40 crore seized in Hyderabad

Preliminary investigation revealed that the consignment had reached Chennai from London through sea route and was then transported to Hyderabad in the containers.

india Updated: Jun 10, 2019 14:29 IST
Srinivasa Rao Apparasu
Srinivasa Rao Apparasu
Hindustan Times, Hyderabad
Containers,silver worth Rs 40 crore,Rs 40 crore
Police said the drivers had no relevant documents and transport permits etc, but had some papers connected with the consignment.(Bloomberg File Photo / Representative image )

The Hyderabad police on Monday confiscated a huge consignment of silver weighing 10.8 tonnes worth nearly Rs 40 crore which was being transported from Chennai.

According to the police in the north zone, two large containers carrying the consignment were intercepted at Bowenpally in the early hours of Monday. The drivers of both the containers and four security guards were detained for questioning.

The security guards said they were not aware of what was inside the containers and were only assigned the duty of escorting the vehicles.

Preliminary investigation revealed that the consignment had reached Chennai from London through sea route and were then transported to Hyderabad in the containers. The consignment contained 9,000 silver bars weighing 10.8 tonnes.

Police said the drivers had no relevant documents and transport permits etc, but had some papers connected with the consignment.

The police are investigating if the silver being supplied to various jewellery shops in Hyderabad without payment of Goods and Services Tax. They have alerted the GST officials for verification of the documents.

“We have shifted the containers to the police station promises and taken the driver and security guards into custody for further questioning,” Bowenpally police inspector D Rajesh said.

First Published: Jun 10, 2019 14:29 IST