Story highlights Drugs bust among India's largest in recent times

The haul is valued at $545 million

(CNN) More than 3,000 pounds (1,500kg) of heroin was seized by the Indian Coast Guard Sunday, in what authorities claim is among the largest drug busts in recent Indian history.

Valued at $545 million, the consignment was found aboard a merchant ship off the coast of the western state of Gujarat, according to a statement by the coast guard.

The Panama-registered ship was coming from Iran and was intercepted after a three-day long operation.

"This is the biggest catch of narcotics in the present times," said coast guard spokesman Commandant R K Singh in a statement sent to CNN Monday.

It was one of India's biggest drug busts, authorities said.

Several authorities, including the Intelligence Bureau and the Indian Navy, are involved in the investigation.