In decade's biggest seizure of gold in Mangaluru Airport, officials seize gold worth Rs. 2 crore
Mangaluru: In one of the biggest seizure of Gold of the decade in Mangalore, 5 Kgs and valued at Rs. 2 Crores was seized at the Air Cargo Complex, Mangaluru.
Acting on a tip-off the officers of Directorate of Revenue Intelligence (DRI) Bangalore and Mangalore in a co-ordinated effort unraveled a unique modus of smuggling of gold through Air Cargo Complex, at old airport, Bajpe Mangalore on Monday.
The smuggled gold was concealed in 5 metal sprockets which were imported by M/s Swaroop Mineral Pvt Ltd of Udupi in the name of “mining conveyor drive chain”.
The gold was deftly concealed inside the heavy metal sprockets by way of a groove and gave only slight hint of tampering on physical examination. The scanning of the said wheels added to the suspicion and finally the officers could retrieve the gold with the help of local mechanic and lathe machine at Bajpe.
On examination by the authorized Jeweller, 05 round plates weighed 4,995 grams by net weight after discounting the weight of aluminium coating. The gold pieces were found to be of 24 Karat purity and their current market value was placed at around 2 Crores.
The contraband gold was later seized by the officers of DRI under the provisions of the Customs Act, 1962. The active director of M/s. Swaroop Mineral Resources Shri Manohar Kumar Poojari involved in the case was arrested at Bangalore on the same day in a co-ordinated effort by DRI Bangalore.
Shri Lohith Shriyan, a person hailing from Ashoknagar looking after the logistics of smuggling was also arrested by DRI Mangalore.
Further investigation in the smuggling case is in progress to unearth the other members of the syndicate and the investors in the case.
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Karnataka High Court upholds tender process for Sharavathi hydroelectric project
Bengaluru: The Karnataka High Court has given its approval for the tender process concerning the Sharavathi Hydroelectric Project, a crucial step in addressing the state's electricity deficit. The project, proposed by the state government with a budget of 8 thousand crore rupees, has faced legal challenges from Larsen and Toubro (L&T) Company.
L&T Company had contested the tender process through an appeal to the Division Bench, seeking to overturn the earlier decision of a single-member bench which had dismissed their writ petition. However, Chief Justice N.V. Anjaria and Justice Krishna Dixit upheld the previous ruling, denying L&T's appeal. Despite L&T's intention to file a appeal in the Supreme Court, their request for a stay on the High Court's decision was also rejected.
The Karnataka Electricity Corporation Limited (KPTCL) had initially planned the Hydro Power Pumped Storage Project at a cost of 8 thousand crores, with a reduced timeline of 21 days for tender submissions. This alteration sparked objections from L&T, arguing for the standard 30-day period mandated by the Transparency Act. However, the single-judge bench ruled against L&T's claim and upheld the authority of the tender-calling entity to adjust the rules as necessary.
In the current tender process, Mercus Megha Engineering and Infrastructure Limited emerged as the successful bidder, securing the contract with the lowest bid.
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