Nagpur: Bullion trader's aide held with 2 kg gold, let off after talks

Nagpur: Police, accused of sheltering hawala operators, appear to be targeting traders instead. On Thursday night, a munim (accountant) of a trader was intercepted with two kilograms of gold in the Itwari bullion market on suspicion, and released a short while later. The operation was carried out very secretly, with no one allowed to get wind of it, raising questions about the action.

Trader Dattu runs a shop in the Itwari bullion market. He shut his shop at 8 pm on Thursday. His locker is a few steps from the shop, where several bullion traders, including Dattu, keep jewellery and cash. Dattu's munim was leaving the shop on an Activa scooter carrying jewellery and cash in a bag when eight to ten policemen, all in plain clothes, surrounded him. This made the munim suspect he was being robbed. Both the munim and Dattu panicked. Before they could make sense of the situation, the policemen identified themselves and asked Dattu and the munim to come with them. According to sources, Dattu is a bullion dealer who sells gold biscuits. His munim was carrying two kilograms of gold biscuits worth about three crore rupees, along with lakhs of rupees in cash. Fearing the seizure of goods worth three crore rupees, Dattu grew anxious. He told the police team that he had authorised documents for the gold and was taking it to be kept in the locker. Ignoring him, the police team said they would summon a central investigating agency. Police refused to release the jewellery and cash, suspecting them to be linked to hawala.

On hearing that the agency would be called in, Dattu informed office-bearers of the bullion traders' association about the incident. The office-bearers, citing rules, requested that the gold be released. After a "marathon meeting", the police team agreed to release the jewellery. According to sources, the matter was settled at 10 percent, which is why no one is discussing it openly. It is said that a tout from the bullion market itself had tipped off the police team, which is why they were waiting near the Tanga Stand. There are 25 to 30 hawala offices in Itwari and Lakadganj, of which 8 to 10 are big operators who have amassed vast wealth through the hawala trade. All these hawala offices operate under the guise of courier services. The Bhutada Chamber in the grain market area is a major hub for hawala operators, where crores of rupees change hands daily through hawala transactions. This trade enjoys the protection of Lakadganj police. Since this latest incident, traders have begun questioning the police, saying they are being harassed while hawala operators are overlooked.