India, March 19 -- Cash, gold, jewellery, and luxury watches estimated to be worth over Rs.100 crore have been seized from a flat rented to Mumbai-based share trader Meghkumar Shah in Ahmedabad's Paldi.

Police superintendent SL Chaudhary said the flat was raided based on a tip-off that smuggled foreign gold was kept there. The recoveries included 87.9 kg of gold bars and 19.6 kg of jewelry totaling 107.5 kg.

Investigators said 52 kg of the gold bars bore foreign markings, indicating that they were smuggled. The jewellery recovered is adorned with diamonds and other precious and semi-precious stones. Eleven high-end watches, including a diamond-studded one, were among the luxury items seized.

Investigators said the exact valuation of th...