HYDERABAD: Justice K Sujana of the Telangana High Court has dismissed a criminal appeal filed by Sukesh Gupta, the managing director of MBS Group seeking quashing of the case being heard against him by the Principal Special Judge for CBI cases in Hyderabad.
Justice Sujana noted that the allegations under the IPC and the Prevention of Corruption Act, 1988 against Gupta are grave, particularly his alleged role in causing substantial financial losses to the Mineral and Metal Trading Corporation (MMTC). The judge said that Gupta’s involvement is clearly outlined in the chargesheet and that a trial is necessary to determine the merits of the case. Citing similar grounds, the court had previously dismissed a criminal revision case seeking Gupta’s discharge.
Counsel for Gupta argued that the dispute was civil in nature and that no criminal offence was committed. He said that there was a MOU between the parties, and the matter had been referred to arbitration in accordance with the terms of the MoU. Counsel further argued that since no loan was availed against the title deeds in question, and no credit facility was used, the case does not merit criminal proceedings.
Counsel for the respondents countered that Gupta played a key role in a conspiracy with MMTC officials to misappropriate funds, causing wrongful losses to MMTC through fraudulent actions. The chargesheet includes allegations of fictitious entries in MMTC’s books, with fake receipts from MBS Group companies amounting to over Rs 177 crore.