The Directorate of Revenue Intelligence (DRI) has cracked down on a major gold smuggling syndicate in Mumbai under “Operation Bullion Blaze.” Acting on specific intelligence, officers conducted simultaneous raids at multiple premises in Kalbadevi, Mazgaon, and Mumbadevi Road, which were being used for melting and processing smuggled gold. During the operation, officials seized 11.88 kilograms of gold valued at ₹15 crore and 8.77 kilograms of silver worth ₹13.77 lakh.
Investigations revealed that the syndicate was operating covert furnaces to melt smuggled gold, converting it into bars, and disposing of the bullion through unregistered shops in the local grey market. The raids uncovered fully operational melting units equipped with complete setups for refining gold brought in wax and other concealed forms. Follow-up searches at trading outlets led to the recovery of additional gold bars, confirming the scale of the racket.
Eleven individuals allegedly involved in the smuggling network were arrested. Those apprehended include S.S. Joshi, A.S. Kesarkar, V.V. Kadam, P. Kumar, N.V. Thakkar, S. Joshi, S. Narale, V. Thakkar, V.H. Rabari, S.P. Tripathi, and S.P. Rathod. Officials stated that the investigation is at a crucial stage, with efforts underway to trace other members of the syndicate and identify the supply chain behind the smuggled bullion.
According to preliminary findings, the racket was part of a larger conspiracy to evade import duties and channel smuggled gold into the domestic market, causing significant revenue loss to the government. The seized bullion has been sent for forensic examination to establish its origin and smuggling routes.
The DRI emphasized that this operation highlights the importance of intelligence-led enforcement and inter-agency coordination in tackling organized smuggling networks. Authorities reiterated their commitment to dismantling such syndicates and safeguarding the country’s economic interests.
