HC issues status quo on ED seizure order

HYDERABAD: The division bench of the Telangana High Court, comprising Chief Justice Ujjal Bhuyan and Justice N. Tukaramji, on Tuesday issued status quo orders over the Enforcement Directorate’s seizure orders dated October 17, 2022, pertaining to the directors of M/s Musaddilal Gems and Jewels (India) Private Ltd.

In January, a single-judge bench had directed the ED to release the seized properties and jewels of the directors.

The ED had conducted raids on MBS Jewellers and Musaddilal Jewellers in a case of alleged cheating of MMTS in which Sukesh Gupta and Anurag Gupta are directors. From Musaddilal Jewellers, the ED confiscated gold and jewellery worth over Rs. 53.98 crore cash and papers worth Rs 1.75 crore. The sons and the wife of Anurag Gupta, who are the directors of the Musaddilal Gems, approached the High Court stating that they were not related to Sukesh Gupta.

On Tuesday, the division bench directed the additional and deputy directors of the ED to file a counter affidavit. It adjourned the case to March 7.