Coimbatore : Condemning the continuous raid by the Election Commission on vehicles carrying gold jewellery and bars from one point to another, the members of the District Jewellers Association have announced that all jewellery shops will remain shut on Saturday.
Coimbatore : Condemning the continuous raid by the Election Commission on vehicles carrying gold jewellery and bars from one point to another, the members of the District Jewellers Association have announced that all jewellery shops will remain shut on Saturday.
The members complained that such repeated raids targeting vehicles transporting gold from the manufacturing site to the shops has been causing severe losses for jewellers. The agitation was instigated after the raid carried out by the election flying squad on Friday night at Puliyakulam, during which 149 kg of gold bars were seized.
The gold bars were being transported by Brinks Global Services, the security and logistics company where traders secure their gold and later transport it to their locations, when required. In one such scenario, the logistic vehicle of Brinks was intercepted by the flying squad enroute to Town Hall, when it was to supply 149 kg of gold bars to seven traders.
The flying squad seized the gold bars and handed over them to the District Treasury Department after alerting the Income Tax department.
Alleging that the flying squad had confiscated the gold bars in spite of the occupants of the vehicle submitting required documents, the members of the Jewellers Association pointed out that they could continue to suffer severe losses, if the officials continued with their raids.
Hence, the jewellers have announced a one-day strike today to express their disapproval. “This one-day strike could mean a loss of Rs.5 crores to the industry,” said a member of the Jewellers Association.