Hyderabad: The directors of Musaddilal Gems and Jewels (India) Pvt Ltd have approached the Telangana High Court challenging the searches and seizure by the Enforcement Directorate (ED) on October 18. They stated that their firms were not related to MBS Jewellers and its director Sukesh Gupta, who is facing the probe.
Directors of the Musaddilal Gems and Jewels, Shashank Gupta and Rudraksh Gupta and their mother Vandana Gupta in their statement said, “Our father Anurag Gupta was a director of MBS Jewellers and came out in 2013. Despite knowing this fact, the ED has been conducting raids on our firm and seizing the ornaments and cash.”
ED had conducted raids on MBS Jewellers and Musaddilal Jewellers in which Sukesh Gupta and Anurag Gupta are directors in a case of alleged cheating of MMTS. ED officials seized gold and jewellery worth over Rs 53.98 crore and cash and papers worth Rs 1.75 crore.
Petitioner said that Musaddilal Gems and Jewels is a private limited company formed on April 12, 2013, and they were not accused in any case or related to any of the scheduled offences. They further said their assets were not part of any profits of crime nor did the ED have any cause to believe in connection with any other case.
The petitioners urged the court to declare the ED’s action in conducting search and seizure at the company’s premises and the petitioners’ residents and seizing assets to be illegal, arbitrary, without authority, and contrary to the settled principles of law. They urged the court to direct the respondents to release all the assets.
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