HYDERABAD: The Special court at Nampally on Monday convicted Sukesh Gupta, director of MBS group of companies, in a case registered by CBI in 2013. He is accused of defrauding the State-owned the Minerals and Metals Trading Corporation to a tune of Rs 200 crore. The court directed the investigating agency to issue non-bailable warrant against the accused.
As for the case, Gupta, a city jeweller, had purchased gold from MMTC and failed to pay its due. Earlier in November, 2020, the Enforcement Directorate had imposed a penalty of Rs 222,44,51,324 on MBS Jewellers Private Limited and Rs 22,24,45,132 penalty on its managing director Sukesh Gupta charging them with violation of the Foreign Exchange and Management Act.