 "CBI arrests jeweller, MMTC official in Hyderabad")
Central Bureau of Investigation(CBI) today arrested the promoter of a local jewellery chain along with a senior manager of the state-owned Mineral and Metal Trading Corporation(MMTC) for alleged irregularities in gold imports causing a loss of close to Rs 200 crore to the government exchequer.
The CBI officials produced Sukhesh Gupta, owner of Musaddilal Bhagwat Swaroop (MBS) Jewellers, and Ravi Prakash, senior manager of MMTC in a local CBI court after arresting them earlier in the day.
The arrests followed after the investigative officials claimed to have found certain irregularities in gold imports.
Last year the investigative agency filed an First Information Report(FIR) against the jeweller and the MMTC officials under the Indian Penal code (IPC) sections of 420(cheating), 409(criminal breach of trust) and the Prevention of Corruption Act for resorting to fraudulent practices in the import of gold last year.
The CBI officials produced Sukhesh Gupta, owner of Musaddilal Bhagwat Swaroop (MBS) Jewellers, and Ravi Prakash, senior manager of MMTC in a local CBI court after arresting them earlier in the day.
The arrests followed after the investigative officials claimed to have found certain irregularities in gold imports.
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Besides this the cheques given by the MBS owners to MMTC towards gold imports were returned by the bank due to paucity of funds in the account, according to a complaint given by MMTC.
Last year the investigative agency filed an First Information Report(FIR) against the jeweller and the MMTC officials under the Indian Penal code (IPC) sections of 420(cheating), 409(criminal breach of trust) and the Prevention of Corruption Act for resorting to fraudulent practices in the import of gold last year.
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