Kolkata, Jun 12 (IANS): The Directorate of Revenue Intelligence (DRI) has busted a "corporate type smuggling" racket and arrested a mastermind and his relative who were involved in many cases with the seizure of about 360 kg of gold worth over Rs 108 crore in the past five years, an official said on Wednesday.

Taking a cue from the seizure of 8 kg gold, about 74 kg of silver jewellery and 3 kg of ganja with a cumulative value of Rs 3.31 crore from a bus plying from Siliguri to Kolkata, the DRI sleuths arrested the "uncle-nephew duo" who were instrumental in successfully ferrying huge quantity of smuggled gold from various bordering locations.

"Four persons were arrested in the seizure of gold, silver and narcotics. Further investigations led to the apprehension of two more persons, including the mastermind and his relative, who were behind a series of cases in which about 360 kg gold valued at more than Rs 108 crore have been seized over the past five years," a DRI official said.

According to sources, the mastermind of the smuggling racket Ashok Jalan and his nephew Amit Jalan were allegedly involved in hawala transactions.

"Investigations revealed that the mastermind ran a very well-coordinated corporate type smuggling racket with separate verticals/divisions handling finance and manpower (carriers of gold). This structure enabled him to remain incognito for the last five years or more," the official said.

The gold was smuggled from Indo-Bangaldesh, Indo-Burma and Indo-Bhutan borders by employing various carriers and middlemen.

During interrogation, one arrested person admitted to have arranged for the purchase of 8 kg gold from Bhutan and entrusted the same to an apprehended carrier for its delivery in Kolkata for a carrying charge of Rs 6,000 per kg. His profit in the whole deal was supposed to be Rs 50,000 per kg.