The Directorate of Revenue Intelligence (DRI) has intensified its efforts to combat gold smuggling into the country. In a recent development, DRI officers intercepted seven consignments of “Electric Current/Potential Meters” declared as “Current Guiaor Machine” at the Foreign Post Office in New Delhi. These consignments arrived from Hong Kong.
Discovery of Smuggling Operation
Upon examination, the electric meters were found to be functional, equipped with genuine populated circuit boards. However, their unusual weight raised suspicions. The outer covers of the electric meters, totaling 56 units, were painted black. Scratching the black paint revealed a white-colored metal similar to steel. Further analysis using a spectrometer unveiled that these covers were made of an alloy of gold and silver, with a ratio of approximately 30:70.
Seizure Details
A total of 56 electric meters were imported in eight consignments. The 56 back covers of these meters contained 16.67 kg of gold and 39.73 kg of silver, with an approximate market value of Rs. 10.66 crore. The successful seizure highlights the magnitude of the smuggling operation.
Modus Operandi of the Syndicate
The initial investigation suggests the involvement of a well-organized syndicate in the gold smuggling. The syndicate employed the strategy of alloying gold with silver to alter its color from yellow to white. This white-colored alloy was then used to manufacture the covers of electric meters, cleverly painted black to avoid arousing suspicion.
Multiple Choice Questions (MCQs) with Answers
1. What did the Directorate of Revenue Intelligence (DRI) officers intercept at the Foreign Post Office in New Delhi?
- a) Gold bars
- b) Electric Current/Potential Meters
- c) Silver coins
- d) Currency notes
- Answer: b) Electric Current/Potential Meters
2. What was the outer color of the 56 electric meters’ covers seized by DRI?
- a) Yellow
- b) Blue
- c) Black
- d) White
- Answer: c) Black
3. What was the initial appearance of the electric meters that raised suspicions during examination?
- a) Non-functional
- b) Unusually light
- c) Unusually heavy
- d) Transparent
- Answer: c) Unusually heavy
4. What was the alloy composition of the covers of the electric meters made of?
- a) Gold only
- b) Silver only
- c) Copper and silver
- d) Gold and Silver (30:70 ratio)
- Answer: d) Gold and Silver (30:70 ratio)
5. What was the approximate market value of the seized gold and silver covers?
- a) Rs. 5.5 crore
- b) Rs. 7.82 crore
- c) Rs. 10.66 crore
- d) Rs. 12.45 crore
- Answer: c) Rs. 10.66 crore
6. How did the syndicate change the color of the gold to avoid suspicion?
- a) Painting it black
- b) Alloying it with silver
- c) Using a spectrometer
- d) Scratching the surface
- Answer: b) Alloying it with silver