Ahmedabad, March 18 (H.S.): The Gujarat Anti-Terrorism Squad (ATS) and the Directorate of Revenue Intelligence (DRI) conducted a raid at Avishkar Flats in the Paldi area of Ahmedabad and seized 87.900 kilograms of gold and over 1.3 crore rupees in cash. This recovery was made from the flats of stock market magnate Mahendra Shah and his son Megh Shah. This success was achieved in a joint operation by the DRI and ATS. Agencies claim that this seizure in Ahmedabad is connected to activities extending to Mumbai.

A young man named Megh Shah, residing in Mumbai and associated with box trading, had rented a flat in Ahmedabad to hide gold purchased with money earned from box trading. Like Harshad Mehta, Megh Shah also came into the spotlight of central agencies by trading in small scripts in the stock market.

According to investigators, Mahendra Shah and his son Megh Shah, operators who manipulated share prices of fake companies, had rented this flat. It has been reported that a branded watch worth crores was also found in this flat. The market value of the seized gold is estimated to be more than 100 crores. This operation, which began on Monday, concluded this morning at 8 AM. Both agencies had raided flat number 104 of Avishkar Apartment near Mahalaxmi Junction in Paldi on Monday.

Mahendra Shah is an operator in the stock market. It is said that this gold was purchased over the past year. There are reports of raw entries related to transactions worth crores found in a safe in the flat. Preliminary investigations revealed that black money from box trading was being illegally invested in gold. The search conducted by more than 35 officials from the DRI and ATS took approximately 22 hours. DRI officials had been monitoring the flat for five days. Complete information on who came at what time and in which vehicle was recorded day and night.

The DRI found that some people were carrying bags almost every day, even though the flat was closed. Before the raid, it was discovered that the key to this closed flat was with a lawyer. Therefore, they called the lawyer and opened the flat. The DRI suspects that this scam may be much larger than it appears.

Hindusthan Samachar / Jun Sarkar