ED attaches 45 Hyd properties in MMTC fraud case
Hyderabad
28-August-2021
The Enforcement Directorate has attached 45 immovable properties worth Rs 363.51 crore of M/s MBS Jewellers Private Limited, M/s MBS Impex Private Limited, Sukesh Gupta, Anurag Gupta, Neetu Gupta, Vandana Gupta and their other group entities on August 26, under provisions of the PMLA, 2002.
During ED investigation, it was found that Sukesh Gupta colluded with various officers of the MMTC Hyderabad and painted a wrong picture of his accounts and kept on lifting Gold to carry on its business as usual.
As a result, while MMTC suffered a huge loss, Sukesh Gupta earned huge profits. On the basis of his business profile, he took loans and struck real estate deals and grew his business in the name of various related companies, the ED stated in a release issued on Saturday.
The statement noted," all through the investigation, the conduct of Sukesh Gupta has been evasive and non-cooperative and he has failed to discharge the burden of proof imposed on him under the PMLA, 2002".
In another case under FEMA, the ED has adjudicated and levied a penalty of around Rs 222 crore on the MBS Group.
Sukesh Gupta also entered into a OTS (One time settlement) with M/s MMTC in 2019. But as per the latest reports from MMTC, Sukesh Gupta did not deposit any funds and the OTS has failed. The ED has now identified 45 immovable properties belonging to him and his related entities and their directors and has provisionally attached these properties under PMLA on Aug 26 to safeguard the proceeds of crime.
Watch This TWL Video
Further investigation is in progress.-IANS
More Headlines
BJP MP Alleges Rahul Gandhi Pushed Him, LoP Dismisses Claim
Passengers May Face Inconvenience With ‘Rail Roko’ Protest In Punjab
India Reach 8/0 In Chase Of 275 As Bad Light Forces Tea Break
Tejashwi Yadav Calls ‘One Nation, One Election’ an RSS Agenda
3rd Test: Akash-Bumrah Salvage Follow-On For India On Rain-Hit Day 4
BJP MP Alleges Rahul Gandhi Pushed Him, LoP Dismisses Claim
Passengers May Face Inconvenience With ‘Rail Roko’ Protest In Punjab
India Reach 8/0 In Chase Of 275 As Bad Light Forces Tea Break
Tejashwi Yadav Calls ‘One Nation, One Election’ an RSS Agenda
3rd Test: Akash-Bumrah Salvage Follow-On For India On Rain-Hit Day 4