Hyderabad: In a relief to Hyderabad-based Musaddilal Gems & Jewels and its director Sukesh Gupta, the Telangana high court on Wednesday issued an interim stay on the ED special court order. The special court had taken cognisance of the charges against Sukesh Gupta for alleged involvement in money laundering activities.
The court also issued summons to the ED to appear before it on the next date of hearing. Challenging the ED court’s order, Gupta’s counsel B Vamshidhar Reddy contended that the ED court took cognisance of the charge sheet even though the Supreme Court had seized the matter and it was pending before it.
The ED has filed a charge sheet against Sukesh Gupta, his brother Anurag Gupta, Karri Ravi Prasad, retired senior manager of MMTC, and Valluri Mohan Rao, managing director of MMTC Ltd, for allegedly defrauding MMTC in the purchase of gold bullion under the Buyer’s Credit Scheme, causing an unjustified loss of Rs 226.82 crore to MMTC.
