CBI arrests businessman, MMTC official for irregularities

HYDERABAD: The Central Bureau of Investigation ( CBI) has arrested two persons in connection with alleged irregularities in gold imports, a senior official today said.

City-based MBS Jewellers' promoter Sukesh Gupta and a senior official of the Mineral and Metal Trading Corporation ( MMTC) K Ravi Prasad were arrested for alleged irregularities in gold imports and default of payment, worth over Rs 200 crore, the senior CBI official said.

They were arrested after irregularities in gold imports during 2010-11 were detected, besides an alleged payment default by Sukesh Gupta to the state-owned MMTC.

"We will produce them in the court today," the official told PTI, adding that they had filed an FIR in the case last year, based on a complaint by the MMTC.

Cheques given by Sukesh Gupta to the MMTC had bounced due to paucity of funds in his account, the CBI official said.