Lawstreet Journal

Madras High Court issues Directions to CBI to investigate about the missing 100 Kg Gold from its Custody [READ ORDER]

Lawstreet Journal 15 Dec 2020 8:52pm

Image courtesy: Lawstreet Journal Judiciary Madras High Court issues Directions to CBI to investigate about the missing 100 Kg Gold from its Custody [READ ORDER]

The Madras High Court has directed the Crime Branch to investigate about the missing 100 Kg gold from CBI custody.

Chronological facts:

  1. The Central Bureau of Investigation had seized the gold in connection with cases dating back to 2012 over allegations that officials of Minerals and Metals Trading Corporation of India in Chennai had made undue favours towards Surana Corporation Limited, which dealt in import of gold and silver.
  2. The gold, amounting to 400.47 kg – and in the form of bars and ornaments –was seized by the CBI from Surana’s office in Chennai. The central agency claimed it had locked the company’s vault and handed over the keys to a special CBI court in the city.
  3. In September 2013, the CBI registered another case, saying that while the seized gold was not wanted in relation to the 2012 cases, it had found that Surana had imported the gold in violation of the Foreign Trade Policy. The agency requested that the seized gold be transferred from the first case to the fresh one, following which the court allowed the transfer of about 400 kg on record. However, there was no physical transfer of the gold, as it was already in the vault.
  4. In 2015, the CBI filed its closure report in the second case. It said that there was no “adequate evidence forthcoming” in the matter. A special CBI court accepted the report, but directed that the seized gold be handed over to the Directorate General of Foreign Trade.
  5. But, the Madras High Court set aside the order… Continue Reading...

    Tagged: Madras High Court  
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