Chennai: CB-CID registers case on gold missing from CBI custody | Chennai News

CHENNAI: The CB-CID police have registered a case to find the whereabouts of Rs 30 crore worth gold that went missing from CBI custody, two weeks after the Madras high court directed it probe and wrap up the case within six months.
The 103.9kg gold that is missing was part of gold bars weighing a collective 400.5kg seized by the CBI in 2012 when it raided premises of gold importer Surana Corporation Limited in Chennai. The raids were the result of a case against the officials of Metals and Minerals Trading Corporation (MMTC) for favouring the importer. Following the seizure and registration of a case, the seized valuables were deposited in vaults belonging to the corporation and the premises were locked and sealed by the CBI.
The accused corporation filed for insolvency subsequently following dues it owed State Bank of India and C Ramasubramaniam, a liquidator, was brought in to mediate and settle the debts. A special court in 2017 ordered that the seized gold be transferred to SBI and in the process, it was weighed and found to amount to only 296.1kg. The CBI, when asked about the discrepancy, said it had deposited keys to the 72 vaults with the gold to Chennai principal special court for CBI cases. It further stated that the gold bars were weighed together during the seizure and amounted to 400.5kg, but that they were weighed individually during the liquidation process, giving room to discrepancies.
Based on a complaint by Ramasubramaniam, the CB-CID has registered a case under Section 380 (night burglary) of the Indian Penal Code (IPC).

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