Bala Murugan Pillai, a real estate agent, waiting outside the cargo complex to receive gold was apprehended by the DRI on Saturday.
Mumbai: The Directorate of Revenue Intelligence (DRI) on Saturday arrested a person and recovered five kilograms of gold and 1.5 kilograms of dark metallic powder, worth Rs 1.7 crore, from the air cargo complex in Mumbai.
The price of the gold is Rs 1.39 crore and the dark metallic powder, suspected to be Iridium, is worth Rs 30 lakh.
A person named Bala Murugan Pillai, who is a real estate agent, waiting outside cargo complex to receive the gold was apprehended by the DRI.
The cargo consignment landed in the air cargo complex in Mumbai from Hong Kong via Colombo by flight UL141 and was declared as "Machine Parts and Crankshaft".
After the DRI intercepted the consignment, it was found that three cylindrical pistons where hollow from inside and contained Gold.
The arrested accused admitted that he had made large amount of clearances in the past.