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CBI arrests businessman, MMTC official for irregularities

The Central Bureau of Investigation (CBI) has arrested two persons in connection with alleged irregularities in gold imports
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Hyderabad: The Central Bureau of Investigation (CBI) has arrested two persons in connection with alleged irregularities in gold imports, a senior official today said.

City-based MBS Jewellers’ promoter Sukesh Gupta and a senior official of the Mineral and Metal Trading Corporation (MMTC) K Ravi Prasad were arrested for alleged irregularities in gold imports and default of payment, worth over Rs 200 crore totally, the senior CBI official said.

They were arrested after irregularities in gold imports during 2010-11 were detected, besides an alleged payment default by Sukesh Gupta to the state-owned MMTC.

“We will produce them in the court today,” the official told PTI, adding that they had filed an FIR in the case last year, based on a complaint by the MMTC.

Cheques given by Sukesh Gupta to the MMTC had bounced due to paucity of funds in his account, the CBI official said.

Meanwhile, Sukesh Gupta and Ravi Prasad were produced before a special CBI Court here which sent them to five days’ police custody of the CBI.

The CBI arrested both of them for alleged violation of Bullion Bill Procedures and thus causing wrongful loss to MMTC to the tune of Rs 194 crore, a CBI officer said.

The CBI sought their custody on the ground of conducting further investigation into the case, in order to learn their modus operandi, since they alone have exclusive knowledge about transactions which caused revenue loss of Rs 194 crore to the government.

The accused would be in CBI custody from tomorrow and be produced before the CBI court on January 2 after completion of custodial interrogation, the officer said.

PTI

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