In a major crackdown on gold smuggling, the Directorate of Revenue Intelligence (DRI) conducted a search at a residential flat in Paldi, Ahmedabad on March 17, 2025, along with the officers of Gujarat Anti-Terrorism Squad (ATS) recovering 88kg gold, 19.66 kg jewellery and much more.
According to a press statement issued on Tuesday, the government said that the crackdown by DRI was based on the inputs which were received from Gujarat ATS.
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,” the statement said.
During the operation, other items which were recovered included – 11 luxury watches, including a Patek Philippe watch studded with diamonds, a Jacob & Co timepiece, and a Franck Muller watch and Jewellery weighing 19.66 kilograms, studded with diamonds and other precious/ semi-precious stones.
“The valuation of the said jewellery and luxury watches is in progress. In addition, cash amounting to ₹1.37 crores was also recovered from the said residential premises,” the statement said
Government claims that this search represents a major blow to illicit activities and underscores DRI’s efforts in curbing smuggling and black money generation in the country.
Meanwhile, the investigations have not ended yet and are still underway.