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DRI busts gold export scam, 2 held

The DRI has busted a major racket in gold export involving an Ahmedabad-based businessman who, in connivance with a government-approved valuer, exported inferior quality metal jewellery by declaring it as gold to various foreign countries, resulting in huge losses to the exchequer in terms of remittances.

The DRI's Ahmedabad unit on Saturday arrested Vishal Choudhary, director of Royal Refinery Pvt Ltd. Nachiket Mavalankar, the governmen-approved jewellery valuer, was arrested on Sunday.

The DRI has busted a major racket in gold export involving an Ahmedabad-based businessman who, in connivance with a government-approved valuer, exported inferior quality metal jewellery by declaring it as gold to various foreign countries, resulting in huge losses to the exchequer in terms of remittances. The DRI's Ahmedabad unit on Saturday arrested Vishal Choudhary, director of Royal Refinery Pvt Ltd. Nachiket Mavalankar, the government-approved jewellery valuer, was arrested on Sunday.

Courtesy - TOI

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