The Directorate of Revenue Intelligence (DRI) has busted a massive international smuggling racket and seized 85.5 kg of gold worth Rs 42 crore that was being imported in the form of machine parts at the Delhi air cargo complex.

Acting on intelligence inputs, DRI officers examined an import consignment from Hong Kong at the air cargo complex at the Indira Gandhi International airport in Delhi.

The consignment contained electroplating machines fitted with transformers whose laminates were found to have been made of gold that was coated with nickel to conceal the precious metal.  Approximately one kg of gold was recovered from each of the 80 imported electroplating machines, according to DRI press statement.

The operation code-named “Molten Metal” that included searches at farmhouses and apartments in posh localities in South Delhi and Gurugram led to the arrest of four foreigners. While two of them are from South Korea, the other two are from Taiwan and China.