Hyderabad jeweller booked for cheating finance firm

Hyderabad: Central Crime Station (CCS) sleuths have registered a case against a city-based jeweller for allegedly cheating a Kolkata-based finance firm by defaulting on loan repayments and violating their memorandum of understanding (MoU).
Though the case was registered a week ago after the finance firm lodged a complaint against owner of MBS Jewellers Sukesh Gupta and his wife, it came to light on Saturday. The case is still under probe. When officers went to serve notice on them, they were unavailable, CCS officials told TOI.
In 2018, Sukesh Gupta had taken Rs 110 crore loan from the Kolkata firm and entered into an MoU by pledging eight acres of land in Hafeezpet.
Officials said the jeweller took the loan in the name of his real estate firm. As the accused defaulted on instalments, the finance company had auctioned his Hafeezpet property and realised Rs 102 crores. Since the accused did not pledge another property, the finance company could not recover the remaining amount.
“The firm claimed Sukesh still owes Rs 58 crore,’’ police said. In the past, a cheque bounce case was registered against the jeweller.