Gold and cash seized by the CBI during recent raids on the premises of the Sahay & Son Private Limited in connection with the Minerals and Metals Trading Corporation of India (MMTC) gold import scam, cannot be released, a special court for CBI cases said on Wednesday.
Principal Special CBI Judge L Yousuf Ali dismissed two petitions filed by the firm, facing charges of causing Rs 90 crore loss to the state-owned Minerals and Metals Trading Corporation of India Ltd (MMTC) allegedly in connivance with some officials of the corporation.
Ganesh Agarwal, claiming that the company had nothing to do with the MMTC scam, in which the then chief general manager S Gurusamy is the prime accused, said seizure of gold and cash had adversely affected the day to day activities of the company.
"The investigation is in the preliminary stage and the petitioner has not produced any proof of source of money/ ownership and that the role of petitioner, who is one of the directors of accused company, is evidently under investigation. Therefore, under these circumstances, I am not inclined to entertain these petitions," the Judge said. |
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