The TTD had written to the PNB officials for the restoration of the gold in the temple treasury, however, they have not received any letter from the PNB officials about bringing of the gold back to Tirumala.

The flying squad of the Election Commission seized 1,381 kgs of gold in Tamil Nadu on Wednesday. The gold is found to be belonging to the country’s premier Tirumala Lord Balaji temple.

Election flying force officers were engaged in vehicle testing in the Veppampattu check office in Chennai. Two minivans were parked and when checked, boxes full of gold were found.

However, 1,381 kg of gold was seized by the election commissioners due to lack of relevant documents. The gold was handed over at Poonamalai police station with the vehicle. The investigation is ongoing with four people on the van. The value of the confiscated gold is estimated at over Rs.450 crore[1].

Elections are coming into force across the country since the Election Code of Conduct came into effect. So far, Rs 2628.43 crore has been confiscated and goods have been seized by the flying force across the country.

The gold was deposited in Punjab National Bank for three years. A letter was written by the Tirumala Tirupati Devasthanams (TTD) officials to the PNB officials for the release of the gold three weeks ago after the period expired.

PNB officials left for Chennai from Tirupati to get the seized gold released as per the letter equipped from TTD.

As per the temple authorities, a total of 8,500 kgs of gold has been deposited by TTD in several nationalised banks including State Bank of India, Andhra Bank, PNB and India Overseas Bank.

The Punjab National Bank officials from Tirupati were coordinating with the Tiruvallur district officials after EC cleared the gold. The temple officials expect the gold to reach Tirupati by Thursday, a TTD official clarified[2].

“The TTD had written to the PNB officials for the restoration of the gold in the temple treasury” asserted TTD executive officer Anil Kumar Singhal to the media persons in Tirumala. “However, the TTD has not received any letter from the PNB officials about bringing of the gold back to Tirumala.”

The country’s richest Balaji temple is being managed by the TTD trust board. Under gold monetisation scheme, the trust has been depositing the gold in several banks for the last few years for interest.

As per the temple authorities, a total of 8,500 kgs of gold has been deposited by TTD in several nationalised banks including State Bank of India, Andhra Bank, PNB and India Overseas Bank.

The highest interest is paid by PNB which is 1.75 per cent in the form of gold while the other banks pay between 1.25 and 1.5 per cent.

References:

[1] சென்னையில் 1,381 கிலோ தங்கம் பறிமுதல்.. தேர்தல் பறக்கும் படையினர் அதிரடி April 17, 2019, Times Now

[2] 1381 kg gold seized by Election Commission belongs to Tirupati Balaji Temple: Officials April 17, 2019, Mumbai Mirror