Jewellery Worth Rs 149 Crore Seized During Raids In Fraud Case

Probe Agency ED said it seized jewellery worth Rs 149.10 crore after raids at 5 locations.

Hyderabad:

The Enforcement Directorate (ED) on Thursday said it seized jewellery worth Rs 149.10 crore and recovered Rs 1.96 crore in cash during a recent search operation at five locations in Hyderabad and Vijaywada in a case related to alleged cheating with MMTC.

Search operations were conducted at MBS Jewellers Pvt Ltd and Musaddilal Gems and Jewels India Pvt Ltd, and properties of directors Sukesh Gupta and Anurag Gupta in Hyderabad and Vijaywada on Monday.

Sukesh Gupta was arrested by ED on Tuesday. He was produced before the Special prevention of money laundering act (PMLA) Court at Nampally, Hyderabad, on Wednesday and was sent to 14-day judicial custody.

The probe agency initiated an investigation on the basis of the first information report (FIR) registered by the central Bureau of Investigation (CBI) and Anti-Corruption Bureau (ACB), Hyderabad, against Sukesh Gupta and his companies for defrauding a public sector enterprise -- MMTC Ltd -- in the purchase of gold bullion under Buyer's Credit Scheme.

The agency said Sukesh Gupta, in active connivance with a few officials of MMTC Hyderabad, had continuously lifted gold without forex cover and without adequate security deposits.

Sukesh's dues were consistently mis-reported to the MMTC head office and without squaring off the existing losses, his firms continued lifting more and more gold from MMTC for their personal gain, the agency said. Thereby, it ultimately caused a loss of public money to the tune of Rs 504.34 crore to the public sector enterprise. CBI has filed a charge sheet against Sukesh Gupta and others.

During the ED investigation, it was found that Sukesh Gupta colluded with the various officers of MMTC Hyderabad and painted a wrong picture of his account and kept on lifting more and more gold to carry on its business as usual and MMTC ultimately suffered a massive loss.

Sukesh Gupta also entered into one-time settlement (OTS) with MMTC in 2019. However, MMTC confirmed that he did not comply the OTS conditions and the OTS has failed. Further investigation is under progress.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Adblock test (Why?)

from NDTV News- Special https://ift.tt/rmg8PCl https://ift.tt/XmJqiRo
via IFTTT

Comments

North Korea Says It Tested New Strategic Cruise Missile

North Korea test-fired a new generation of strategic cruise missile on Wednesday. (Representational) Seoul: North Korea fired several cruise missiles towards the Yellow Sea on Wednesday, Seoul's military said, the latest in a series of tension-raising moves by the nuclear-armed state. Hours later, North Korea appeared to confirm the firing, saying it had carried out its first test of a new generation of strategic cruise missiles it is developing, the Pulhwasal-3-31. Pyongyang has accelerated weapons testing in the new year, including tests of what it called an "underwater nuclear weapon system" and a solid-fuelled hypersonic ballistic missile. "Our military detected several cruise missiles launched by North Korea towards the Yellow Sea at around 7:00 am today," the South Korean Joint Chiefs of Staff said in a statement. Unlike their ballistic counterparts, the testing of cruise missiles is not banned under current UN sanctions against Pyongyang. Cruise...

18-Year-Old Killed By Friends Over Mobile Game Password In Bengal: Cops

According to cops, accused "friends" attempted to burn the victim after killing him. (Representational) Kolkata: An argument over sharing the password of an online mobile game allegedly led to the murder of a teenage boy by four of his friends in West Bengal's Murshidabad district, a senior police officer said. The body of 18-year-old Papai Das, who had been missing since January 8, was discovered near Nishindra Ghat of the feeder canal in Farakka on Monday, police said. Papai, a class 10 student, was reportedly killed by his four "close" friends after a disagreement over sharing the password for a mobile online game. The accused individuals have been arrested, police added. "These five individuals used to play online games at one of the quarters of the Farakka Barrage. The victim went out on the evening of January 8 and never returned. On January 9, the family lodged a police complaint. "Based on preliminary investigations, we discovered that...

"Jaiswal Has Run Ahead Of Gill": Ex-India Star's Massive T20 WC Verdict

Former India opener Aakash Chopra has suggested that Yashasvi Jaiswal is slightly ahead of Shubman Gill in the pecking order as captain Rohit Sharma's partner at the top in T20Is. Since making his debut last year, Jaiswal has been in stunning form in the shortest format of the game. Gill's form, on the other hand, has dipped since the ODI World Cup last year in India. With the T20 World Cup scheduled to be held later this year, Chopra feels Jaiswal will open the innings with Rohit during the tournament. "It's clear that Yashasvi Jaiswal has run ahead of Shubman Gill. Yashasvi is ahead in the two-horse race, Gill is lagging slightly behind. Gill was played in the first match, dropped in the second, and wasn't played in the third as well," Chopra said on his YouTube channel. Jaiswal helped India beat Afghanistan in the second T20I earlier this week, scoring a quickfire fifty. Considering his recent form across formats, Chopra emphasised that Jaiswal has ...

டெக் மந்த்ரா

Search This Blog