In a major haul, 170 kilograms of gold and diamond jewellery was seized by sleuths of Punjab Taxation department at Sahnewal airport.
"The executives of a private company were found carrying the diamond-studded jewellery and gold ornaments in a chartered plane on Thursday," State Taxation department officials said. They were asked to produce documents regarding the consignment, Deputy Taxation Commissioner Rishipal said, adding that the documents produced by the company executives, however, were not relevant to the consignment, which was then seized.
The seized jewellery was deposited in the local government treasury at midnight, Rishipal said.
The company officials claimed that it was a stock transfer for a new showroom to be opened here, he said. In case, the company fails to produce the relevant documents, they would be liable to pay about `32 crore as tax and penalty, he said.
"If the documents are produced, then one per cent penalty of the total value will be imposed for not having informed the local officials," he said. The jewellery was first transported from Trichur and Coimbatore to Ahmedabad From there it was air-lifted to ludhiana in a chartered plane, Rishipal said.
The documents stated that the jewellery belonged to a renowned jeweller running a national chain of outlets and a prominent Bollywood actress is scheduled to inaugurate the showroom of the company later this week.