The Enforcement Directorate has attached 45 immovable properties worth ₹363.51 crore of MBS Jewellers Private Limited, MBS Impex Private Limited and others in a money laundering case.
The attached assets also belong to Sukesh Gupta, Anurag Gupta, Neetu Gupta, Vandana Gupta and their other group entities.
The ED probe is based on a First Information Report registered by the Central Bureau of Investigation against Sukesh Gupta and his companies for allegedly cheating MMTC Limited in the purchase of gold bullion under the Buyer’s Credit Scheme.
The accused, in connivance with some officials of MMTC-Hyderabad, had continuously lifted gold without forex cover and without adequate security deposits.
His dues were consistently misreported to the MMTC head office and without squaring off the existing losses, his firms continued lifting gold from MMTC for their personal gain, causing a loss of ₹504.34 crore to MMTC.
In its own case, the CBI has filed a chargesheet against Sukesh Gupta and others in 2014.
According to the ED, the accused made huge profits and on the basis of his profile, took loans and struck real estate deals to expand his business in the name of various related companies.
In another case under Foreign Exchange Management Act, the ED has adjudicated and levied a penalty of around ₹222 crore on the MBS Group.
It is alleged that Sukesh Gupta had entered into a one-time settlement with MMTC in 2019. But, as per the latest reports from MMTC, he did not deposit any funds and the agreement has failed.
