Madras, May 3: One hundred and sixty kilograms of gold ornaments ranging from a ring to a huge gold necklace, stored in 48 boxes and valued at ₹65 lakhs — claimed to be one of the biggest hauls in the country — were seized by the Central Excise officers from the residence of a “pawnbrokers banker” last Monday. These boxes had been stored in a strong room in the premises at Govindappa Naicken Street, George Town. The officers also seized cash of ₹63,000. The banker had neither declared possession of this huge quantity of gold ornaments nor even his personal jewellery.

Disclosing this at a press conference to-day, Mr. L.J. Rao, Collector of Central Excise, said each box contained 100 to 1,500 items of gold jewellery. These boxes belonged to various pawnbrokers who had re-pledged them with their ‘banker’ and received an advance of monies. Two Inspectors Mr. P. R. Krishnan and Mr. K. Rangaraj, spent over 10 days gathering intelligence and finally located the premises. Fifteen officers led by Mr. E. J. Coelho, Assistant Collector and Mr. N.V. Kumaraswamy, Superintendent, entered the premises on April 26 and started an inventory of all the ornaments.