Hyderabad: A special court in Hyderabad has convicted the director of M.B.S Jewelers, Sukesh Gupta, for cheating the Minerals and Metal Trading Corporation of India (MMTC) to the tune of Rs. 274 crores. On 18 January, the court directed the investigating agency to issue a non-bailable warrant against the Hyderabad-based businessman.
Speaking to NewsMeter, Manu, a standing council member of MMTC, said, "The accused, Sukesh Gupta, purchased gold in 2013 but failed to pay MMTC its due. He issued a cheque but it bounced resulting in MMTC filing a criminal case in 2013. He owes money to MMTC towards gold supply."
On Monday, Sukesh Gupta failed to appear before the court. He, however, sent a COVID-19 report via his advocate. But the court wasn't convinced and dismissed it resulting in his conviction and the non-bailable warrant. "The imprisonment will be announced in the presence of the accused," the advocate added.
The Central Bureau of Investigation and the enforcement directorate are probing the MMTC gold purchase case.