Kondotty: About 100 kg of gold, worth around Rs 50 crore, seized by customs over the last three years, will be handed over to the Central Government. Apart from gold seized from Kozhikode and Kannur Airports, a portion of the gold confiscated by the Customs Preventive Unit will also be handed over.
The seized gold was from 149 major cases filed till last December. Steps for the transfer of gold are in progress. The Commissioner of Customs from Chennai has been appointed as the Commissioner of Appeals to look into the matter.
Earlier, the Judicial Magistrate was tasked with verifying the quantity and other details of the seized gold. However, to simplify these proceedings, a Commissioner of Appeals was appointed.
The gold seized at Kannur airport was transferred to the Kozhikode office. The gold will be acquired by the Security Printing and Minting Corporation of India. Customs sent a letter for handing over the gold to their Mumbai office.
Earlier, customs had to bring gold to Mumbai. Now, a representative of the corporation will receive the gold from Kozhikode itself. The gold will be confiscated by the government within a month after the completion of the process. 150 kg of gold seized by customs is in the customs house in Kochi.