In a major seizure of gold consignment, the Directorate of Revenue Intelligence (DRI) have arrested four people for allegedly trying to smuggle the yellow metal valuing about Rs 6.88 crores into the country from Dubai and Sri Lanka.
The DRI sources informed that the four accused in the case have been remanded in judicial custody.
The DRI received an input after which they were able to seize 20.6 kg gold, valued at Rs.6,88 crores.
The consignment had been kept hidden by the syndicate at a residential premises in the city.
DRI has so far identified the Chennai-based man to be the kingpin.
Investigation revealed that the seized gold was smuggled from Dubai to Chennai through Mumbai in this manner, DRI sources said.