Octroi department seizes 950 kg silver worth Rs 47 crore

In one of the biggest seizures in the history of the Brihanmumbai Municipal Corporation (BMC), the vigilance squad of its octroi department has seized 950 kg of silver worth Rs 47 crore at Bandra Terminus. The civic body has slapped a fine of Rs 10.45 crore on the concerned party for evading the octroi.

Civic officials claimed this is biggest seizure of silver in the octroi department’s history. Five years ago, about 700 kg of silver was seized by its vigilance squad.

According to officials, the goods were brought into the city by Pashchim Express (Amritsar to Bandra Terminus). The party tried to evade the octroi duty by making false entry at the Bandra Terminus. However, it was intercepted by the octroi department officials on May 25. The vigilance squad then took the goods to the Byculla office of the assessment and collection department of the BMC.

A senior official from the octroi department said, “Though the valuables were seized in the month of May, they are not evaluated till the concerned party comes forward to claim it. They will be returned only after fine is paid by them. We will recover Rs 10.45 crore including the fine for the evasion of octroi.”

In March, the vigilance department of the octroi department had seized ornaments worth Rs 37 crore at Mumbai Central.