NEW DELHI: Four persons, who allegedly melted coins to sell them in the form of slabs to jewellers, were arrested at Samaipur Badli in North-West Delhi on Tuesday. The police recovered melted and "intact" coins worth Rs. 8 lakhs from their possession.

According to the Deputy Commissioner of Police, Tejinder Luthra, a team led by Inspector Subhash Tandon received a tip-off that a unit for melting coins was being run at Samaipur Badli.

Subsequently, a raid was mounted at the unit, from where four persons were arrested when they were melting the coins in the furnaces.

During interrogation, they identified themselves as Ram Jit, Raj Kumar, Abdul Hamid, Bahadur.

They allegedly revealed that the unit was owned by Madan Khandelwal, a resident of MIG Flats at Rohini Sector VII, who was found missing.

The team, comprising Sub-Inspectors Jitender, Manjit and others, recovered two furnaces filled with coins, which were on fire, and 84 jute bags stuffed with 25 paise, 50 paise and Rs. 1 coins, valued at Rs. 4.2 lakhs.

The police also seized 140 slabs worth Rs. 3.5 lakhs, a generator set, a air blower and an electronic weighing machine.

Mr. Luthra said the unit was being run in the garb of "Ambika Metal Company" for the past two months. The accused disclosed that the unit-owner, Madan, supplied the slabs to jewellers based in Delhi and Rajasthan. "A one-rupee coin in a melted form is worth Rs. 1.6 and it is used to manufacture "kundan" jewellery," said Mr. Luthra.

The accused have been booked under the provisions of the law that attract maximum punishment of seven years with fine. A hunt has been launched for the unit-owner and further investigations are on.

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