Directorate Revenue of Intelligence (DRI), probing the 110kg gold smuggling case which involved businessmen from Mumbai and Kerala, revealed that the gang smuggled more than 3,000kg of gold worth Rs1,000 crore in eight months. A DRI official stated that the accused smuggled gold in 24 consignments from July 2018 to March this year, when the racket was busted and 14 persons were arrested.

"During scrutiny, it transpired that the syndicate smuggled 3,396kg gold, which is one of the biggest seizures in recent years. Hence, the accused were detained under stringent sections of Conservation of Foreign Exchange and Prevention of Smuggling Act (COFEPOSA)," revealed a source. As Bombay high court stated last week, COFEPOSA was not applicable on technical grounds, DRI will move the Supreme Court on Monday. Officials warned if the accused are released, they may smuggle gold again.