Middle East
An expatriate Indian in the gulf is paid his ticket to Kozhikode by the gold racketeers. His job is to carry 5Kg of gold and hand it over to the agent in Kozhikode airport.
Middle East
An expatriate Indian in the gulf is paid his ticket to Kozhikode by the gold racketeers. His job is to carry 5Kg of gold and hand it over to the agent in Kozhikode airport.
Kozhikode
Duty of Rs 22 per gm is paid by the courier. The cash has already been paid to him. The gold changes hands and is given to the agent.
Bombay
The bulk of the gold is sold in the black market. The end recievers and the jewellers or those who wish to convert their black money into gold.
Money is fuelled out from the country through the hawala route. The finance involved is about Rs 3.500 crore.