HYDERABAD: The directors of Musaddilal Gems and Jewels (India) Private Limited have approached the Telangana High Court challenging the searches and seizure by the Enforcement Directorate on October 18, stating that they or their firms were not related MBS Jewellers and its director Sukesh Gupta facing a probe.
“Our father Anurag Gupta was director in MBS Jewellers and came out in 2013. Knowing this fact , the ED has been conducting raids on our firm and seizing the ornaments and cash,” directors of the Musaddilal Gems and Jewels, Shashank Gupta and Rudraksh Gupta and their mother Vandana Gupta stated.
In a case of alleged cheating of MMTS, the ED had conducted raids on MBS Jewellers and Musaddilal Jewellers in which Sukesh Gupta and Anuag Gupta are directors. In Musaddilal Jewellers, the ED officials confiscated gold and jewellery worth over Rs 53.98 crore and cash and papers worth Rs 1.75 crore.
According to the petitioner, Musaddilal Gems and Jewels is a private limited company formed on April 12, 2013, and they were not accused in any case or related with any of the scheduled offences. They 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 set aside the same by directing the respondents to release all the assets.
