The Directorate of Revenue Intelligence (DRI) has seized 88 kilograms of gold bars and luxury watches worth over ₹80 crore from a locked residential flat in Ahmedabad, Gujarat.
The operation, carried out in coordination with the Gujarat Anti-Terrorism Squad (ATS), marks a significant crackdown on gold smuggling activities.
According to an official statement from the Ministry of Finance, the search took place on 17 March at a flat in the Paldi area. The authorities recovered 87.92 kilograms of gold bars, most of which bore foreign markings, suggesting they had been smuggled into India.
Additionally, 19.66 kilograms of jewellery embedded with diamonds and other precious stones were also found.
Alongside the gold and jewellery, the DRI team discovered 11 high-end luxury watches, including a diamond-studded Patek Philippe, a Jacob & Co timepiece, and a Franck Muller watch.
Cash amounting to ₹1.37 crore was also recovered from the premises. Officials are currently assessing the total valuation of the seized jewellery and watches.
The ministry described the raid as a major breakthrough in the fight against economic offences, reinforcing the DRI’s commitment to curbing smuggling and protecting the nation’s financial integrity.
This operation comes amid heightened scrutiny over gold smuggling cases, particularly following the recent controversy involving Kannada actress Ranya Rao.
Earlier this month, the DRI intercepted her at Bengaluru’s Kempegowda International Airport, where she was found carrying 14 kilograms of gold bars worth ₹12.56 crore upon her return from Dubai.
In another significant operation on 7 March, the DRI, in collaboration with the Indian Coast Guard (ICG), seized nearly 30 kilograms of hashish oil worth ₹33 crore from a vessel en route to the Maldives.
Intelligence had revealed that a smuggling gang based in Tamil Nadu’s Tuticorin had covertly loaded the contraband onto a barge mid-sea. The ICG intercepted the vessel off the Kanyakumari coast and escorted it to Tuticorin New Port.
Authorities arrested the key individuals behind the drug smuggling operation, including the gang member responsible for loading the narcotics and a crew member who provided the vessel’s location to the traffickers.
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