10 tonnes of silver seized in Bowenpally, Hyderabad

Bowenpally police seized silver weighing 10.86 tonnes worth around Rs 40 crore, which reportedly belongs to Ratnakar Bank Limited (RBL), and have asked GST officials to verify the documents and legality of the consignment. The verification process might take another day.

Two large containers carrying the consignment of 348 silver bars, each weighing 30 kg, reached Bowenpally on Monday morning and while it was being unloaded from the containers and loaded into two jeeps the police patrolling staff detected the silver consignment.

N. Sudhakar Reddy, SI of Bowenpalli police station said, “The drivers of the containers, vehicles and four security guards were detained for questioning. The security guards said they were not aware of what was inside the containers and were only assigned the duty of escorting the vehicles.”

They provided some documents which were handed over to the GST and income tax officials to



check for authenticity and legality of the consignment and based on the officials’ report, Bowenpally police will take further action.

“We have shifted the containers to the police station premises and taken the driver and security guards into custody for questioning,” Bowenpally police inspector D. Rajesh told.

The verification process might take another day. Ratnakar Bank Limited (RBL) booked a silver consignment from London. JP Morgan shipped the silver consignment from London to Chittoor in AP and unloaded the consignments at the harbour.

Brink’s India, a private security and protection company, was given the job of transporting the silver to different cities in India safely. The consignment was being transported to RBL bank branch in Banjara Hills. Two large containers carrying the consignment of 348 silver bars, each weighing 30 kg, reached Bowenpally on Monday.