LS polls: Flying squad seizes 1,425 kgs of gold on Vandalur-Minjur Outer Ring Road

CHENNAI: The election flying squad seized a whooping 1,425 kgs of gold bars worth more than Rs 1000 crores during a vehicle check on Vandalur-Minjur Outer Ring Road on Saturday.

On Saturday evening the flying squad who were on vehicle check in Vandalur-Minjur Outer Ring Road near Kundrathur intercepted a car and a lorry which was heading towards Sriperumbudur.

The officials when checking the lorry found there were gold bars covered in the boxes weighing more than 1000 kgs.

While questioning the lorry driver the men who came in the car told the officers that the gold bars belonged to a firm and it was being taken to a factory in Sriperumbudur and they had all the documents for it.

The officers when checking the documents found it was not proper and the details are missing in the documents.

Soon the lorry and car were seized by the officials and it was taken to the Sriperumbudur Revenue Office.

The Kancheepuram district election officials and the Income-tax officials visited the Revenue office and during the investigation, they found that in the document it was mentioned only 400 kgs of gold but in the vehicle there was 1,425 kgs.

The officers are investigating to whom the gold bars belong too and who the people behind this.

Meanwhile the seizure had created a buzz among the public and gold traders in Chennai.

"The cost of one kilo bar gold 24 carat cost around Rs 75 lakhs and the gold in jewellery (22 carat) will be around 67.80 lakhs," said Jayantilal Challani, president, Jewellers and Diamond Traders Association of Madras.

Meanwhile the poll officials in TN had so far seized cash worth Rs 155 crores and the overall cumulative seizures including liquor, gold, freebies will be around 324 crores, a press release from public election department read.