Sri Krishna Jewellers' group Managing Director Pradeep Kumar and his son Saicharan were taken into custody on Monday by the officials of the Directorate of Revenue Intelligence in connection with the alleged Customs Act violations in the course of their gold trade.
After conducting their inquiry, the DRI officials produced Pradeep Kumar and Saicharan before the Nampally Criminal Court where the Magistrate remanded them to a 14-day judicial custody.
They were later sent to the Chanchalguda Central Jail.
The DRI had continued its searches in connection with the case on Monday, too, and the agency has so far arrested three persons including Pradeep Kumar in the case.
According to reports, Pradeep Kumar and Saicharan were conducting their gold business by establishing 35 companies across the country.