CBI arrests leading jeweller in Hyderabad

Hyderabad, Dec 27 : The Central Bureau of Investigation (CBI) Friday arrested MBS Jewellers owner Sukhesh Gupta for alleged irregularities in gold imports. A court later sent him to judicial custody.

Officials of the anti-corruption wing of the CBI arrested Gupta after questioning him in connection with the case booked against him early this year.

An official of state-owned Minerals and Metals Trading Corporation (MMTC) was also arrested, a CBI official said.

Gupta and MMTC senior manager K. Ravi Prakash were produced before the CBI court, which sent them to judicial custody till Jan 9. The court also remanded them to CBI custody for five days.

The CBI in January had registered a case against Gupta and some officials of MMTC, charging them with entering into a criminal conspiracy to cheat MMTC and the exchequer to the tune of Rs. 100 crore.

Some employees of MMTC in connivance with Gupta, director of Musaddilal Bhagwat Swaroop (MBS) Jewellers, committed certain financial irregularities with regard to gold imports between April 15, 2011 and December 5, 2011, said the CBI.

The CBI booked the accused for causing a loss of Rs.100 crore to the government through fraudulent deposits and bank guarantees. They were booked for cheating, criminal breach of trust and corruption.

One of the promoters of MBS was earlier questioned by the CBI in corruption case involving YSR Congress chief Y. S. Jaganmohan Reddy.

--IANS (Posted on 27-12-2013)

andhra-pradesh-news headlines

All is well between TDP-BJP, confirms Prakash Javadekar

BJP, TDP alliance to continue

TRS knows no language save provocation: Jairam Ramesh

Congress promises free TVs, laptops in Seemandhra

BJP-TDP alliance to continue in Seemandhra

Seemandhra migrants to decide outcome in Malkajgiri (Election Special)

BJP-TDP talks on to save alliance in Seemandhra

Jaganmohan Reddy is worth Rs.416 crore

Andhra industrialist files nominations as candidate of BJP, TDP

Congress candidates unwilling to contest

BJP objects to Sonia's statement on formation of Telangana

Jagan, Vijayamma file nominations

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top