20kg gold captured from traveler at Cochin airport

KOCHI: In a pre-election drive, a district-level special group of the main management organizations, such as earnings tax, captured 20kg silver from a traveler, who reached Cochin worldwide airport terminal from Chennai on Wed night.

The group was constituted at a latest conference of main management organizations organised by region enthusiast M G Rajamanickam in a bid to check unlawful circulation of money during the selection period.

According to the region management, the management organizations captured 20 silver cafes, each with a weight of 1kg, from Antony Collins, who came in Jet Air passage journey at 7.30pm. The traveler presented himself as home of Southeast Gold Pvt Ltd, according to authorities. The seizure worth over Rs 25 crore was made by a group led by earnings tax official Vishwanatha Panicker.

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"We got a tip-off that a traveler is holding silver. The silver cafes were found in his baggage bag. He stated that the silver cafes were bought from Bank of India's gold bullion division in Chennai," said an earnings tax official.

The management organizations said that the traveler revealed a papers for the purchase of silver. But it had a Coimbatore deal with, according to management organizations. "When inquired, he stated that his group had a revenues of Rs 600 crore per year. But the group had late on tax payment," said the official, including that he was requested to pay an advance tax amount of Rs1 crore.

After asking, he was let off by management organizations on the condition that he generates records on Saturday to confirm his statements.