BREAKING: ED Attaches Gold Worth Over ₹54 Crore in Guwahati PMLA Probe; Unravels Alleged Myanmar-UAE Smuggling and Hawala Network
(Judicial Quest News Network)
New Delhi, September 23, 2026: The Directorate of Enforcement (ED), Guwahati Zonal Office-I, has provisionally attached 37.064 kilograms of gold, valued at more than ₹54 crore, in connection with a money-laundering investigation against Akshay Parshuram Bansode and other unidentified persons.
The attachment has been affected under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) and relates to a suspected transnational gold-smuggling syndicate allegedly operating through a network of couriers, hawala channels and bullion traders.
The attached contraband comprises 29 big-sized gold bars and 50 small-sized gold pieces, along with approximately 13 grams of ancillary silver-coloured metal flakes.
Gold Seized from Conscious Possession
The gold was originally seized by the Assam Police on June 30, 2026, from the conscious possession of Bansode at Kharghuli Hatisil, Guwahati.
The entire consignment is presently stated to be in safe custody at the Kamrup Metro Treasury, Guwahati.
The police seizure, reportedly one of the largest recoveries of its kind in Assam, led to the registration of a case by the Latasil Police Station, Kamrup (Metro), Assam, concerning the alleged illegal transportation and concealment of smuggled gold, criminal conspiracy and connected offences.
The ED subsequently initiated a money-laundering investigation on the basis of the scheduled-offence
Alleged Courier Syndicate Under Probe
According to the ED investigation, Bansode had allegedly been engaged for several years in transporting gold across different parts of India at the direction of an unidentified individual believed to be controlling a wider syndicate of couriers.
The investigation has indicated that the alleged courier network used a coded identification system for communication and coordination.
In return for transporting the consignments, Bansode is alleged to have received a fixed monthly remuneration.
The ED is examining the role of the unidentified syndicate operator, other couriers, financiers, bullion traders and persons involved in the concealment, movement and attempted legitimisation of the gold.
Myanmar-UAE Route and Hawala Payments
The agency has further alleged that the gold was smuggled into India through routes linked to Myanmar and the United Arab Emirates.
The proceeds and payments connected with the alleged transactions were reportedly routed through hawala channels, thereby evading formal banking scrutiny and concealing the origin and movement of the funds.
The probe is also examining the manner in which the allegedly smuggled gold was sought to be introduced into India’s formal bullion market.
According to the ED, certain traders linked to a bullion-refining company allegedly generated invoices with a view to projecting the consignment as part of a legitimate commercial transaction.
The agency is investigating whether the invoices were created after the event to provide a colour of legality to gold that had no established customs or import trail.
Ownership Claims Prima Facie Fabricated
During the investigation, a person allegedly came forward to assert ownership over the seized gold and relied upon invoices projected as sale documents. The ownership claim was examined by the investigating authorities and was found to be prima facie unsupported and allegedly fabricated.
The jurisdictional court subsequently rejected the claimant’s application seeking release of the gold.
The court’s decision followed the failure of the claimant to establish a legally credible chain of title over the seized consignment.
The ED has stated that neither Bansode, from whose possession the gold was recovered, nor the person claiming ownership could produce any customs-clearance certificate, import document or other material demonstrating lawful acquisition of the
PMLA Implications
The provisional attachment under the PMLA is intended to prevent the suspected proceeds or property connected with money-laundering from being concealed, transferred, disposed of or otherwise dealt with during the pendency of the investigation.
The attachment is provisional in nature and remains subject to confirmation by the Adjudicating Authority under the statutory framework.
The agency’s allegations are yet to be tested in adjudicatory or criminal proceedings, and the accused persons are presumed innocent unless their guilt is established in accordance with law.
The ED is now tracing the financial architecture behind the alleged smuggling operation, including the source of the gold, the identities of the principal handlers, the hawala operators, the traders who allegedly generated the invoices and the possible route through which the consignment was intended to enter the formal bullion market.
Further Investigation Underway
The attachment marks a significant escalation in the Guwahati gold-smuggling case, which initially came to light following the Assam Police seizure at Kharghuli Hatisil.
The ED is continuing its investigation to identify the ultimate beneficiaries of the alleged syndicate, determine the total volume of gold moved through the network and establish the financial links between the cross-border smuggling operation and the domestic bullion trade. Further action under the PMLA and other applicable laws is likely as the investigation progresses.
