Director of the Hyderabad-based MBS Jewellers Sukesh Gupta was sent to judicial custody by a court today in connection with a money laundering case.
The court remanded the accused till November 5, 2022. He was then taken to the Chanchalguda central prison.
The ED authorities had arrested Gupta yesterday night and recorded his statement in the case. He was taken to a hospital for a medical examination today after being kept at the CCS office for an overnight stay.
MBS Jewellers had bought huge quantities of gold from Metals & Minerals Trading Corporation in 2011. The officials of the corporation lodged a complaint with the CBI urging it to recover Rs 503 crore from the accused in that connection. The CBI registered an FIR in the case initially. Later, the officials of the ED also registered a case on allegations of money laundering by Gupta.