Chennai/Trichy/Coimbatore: It was a last minute decision by customs officials to weigh the batteries of an LED emergency lamp that led to the seizure of eight gold bars at Coimbatore airport on June 13. The bars were found flattened and concealed inside the batteries. A man from Kerala who arrived from Sharjah was arrested. In a 2011 case, a passenger had brought in 1.6kg gold after converting into rim and spokes of a bicycle wheel. From belt buckles to lining of suitcases, people are finding innovative ways to bring in gold.
And why not? The huge increase in the duty on gold may have managed to put a squeeze on imports, but the resulting shortage in the market is fuelling smuggling of the yellow metal. While the central agencies are trying hard to bust gold smuggling cartels, the rush to illegally bring gold continues with Tamil Nadu seeing an increase in seizures.
Not just Chennai, even cities like Coimbatore, Madurai and Trichy are also witnessing a spurt in gold smuggling cases, show reports from customs and revenue agencies. According to sources at Trichy airport, 17 cases were recorded last year, with a total recovery of 60kg of gold worth about Rs 17 crore. Coimbatore has seen 10 cases of seizure of gold since November 2013.
25/06/14 Times of India
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And why not? The huge increase in the duty on gold may have managed to put a squeeze on imports, but the resulting shortage in the market is fuelling smuggling of the yellow metal. While the central agencies are trying hard to bust gold smuggling cartels, the rush to illegally bring gold continues with Tamil Nadu seeing an increase in seizures.
Not just Chennai, even cities like Coimbatore, Madurai and Trichy are also witnessing a spurt in gold smuggling cases, show reports from customs and revenue agencies. According to sources at Trichy airport, 17 cases were recorded last year, with a total recovery of 60kg of gold worth about Rs 17 crore. Coimbatore has seen 10 cases of seizure of gold since November 2013.
25/06/14 Times of India
