The Directorate of Revenue Intelligence has seized 88 kgs of gold bars, 19.66 kgs of studded jewellery and a stash of luxury watches worth crores of rupees from a locked flat in the Ahmedabad Paldi area. As per reports, DRI raided the flat with a team of Gujarat ATS officials.
Most of the gold bars were of foreign markings, indicating smuggled gold from abroad. Cash worth Rs 1.3 crores was also found. The value of the gold bars alone is estimated at around Rs 80 crores. The studded jewellery is expected to be worth several crores too.
Gold, jewelry, and luxury watches worth over ₹100 crore were recovered from a flat in Ahmedabad, Gujarat, during a raid.
— TIMES NOW (@TimesNow) March 19, 2025
– 88 kgs of gold bars seized
– 11 luxury watches found
– Rs 1.37 crore cash recovered
– Valuables found at a residential flat
– Gold bars had foreign… pic.twitter.com/Xd7j4w3LOH
11 luxury watches from ultra-expensive labels, such as a diamond-studded Patek Philippe, Frank Muller, Jacob & Co etc were recovered.
The raid occurred on 17 March.
