Vyas kin get possession of property rented to MBS Jewellers

Hyderabad: After a seven-year battle in the courts, the Vyas family finally took possession of their property in a prime location at Basheerbagh. This was rented to MBS Jewellers Pvt Ltd, owned by Sukesh Gupta.

The city civil court, which was hearing the case, took custody of the property last month. After completing the legal procedures, the court staff handed over the property to Vyas family members on October 13.

 Meanwhile, Enforcement Directorate (ED), which started raids on MBS Group of companies and Musaddilal Jewellers across Telangana and Andhra Pradesh, continued searches on the second consecutive day on Tuesday.

Citing court orders, Madan Gopal Vyas told Deccan Chronicle “MBS Jewellers Pvt Ltd have been evicted for non-payment of Rs 17.5 crore following the city civil court’s eviction order.”

 The vacant property possession has been given to the children of late Goverdhan Vyas, who was the original owner of the property. Vyas said justice was delivered eventually.

“Now, we will fight to get the rent arrears of Rs 17.5 crore,” said Gopal Vyas.

In 2021, a city court in Hyderabad had convicted Sukesh Gupta in a 2013 case registered by CBI for cheating the Minerals and Metals Trading Corporation (MMTC) to the tune of Rs 200 crore.