Nitin Gupta and Nikhil Gupta, siblings and directors of noted jewellery shop in city - Musaddilal Jewellers Private Limited - were arrested by Central Crime Station (CCS) sleuths of Hyderabad on Tuesday.
CCS DCP Avinash Mohanty said the two siblings were operating two firms -M/s Musaddilal Gems and Jewellers Private Limited and M/s Vaishnavi Bullion Private Limited - in addition to M/s Musaddilal Jewellers Pvt. Ltd. A criminal case was registered against them on charge of creating fake and fictitious payment receipts for nearly ₹59 crore on the day of announcement of demonetisation. The receipts were purportedly acquired from nearly 3,100 customers. Advance payment receipts for nearly ₹40 crore were also created by them in the name of M/s Vaishnavi Bullion Pvt. Ltd. from nearly 2,100 customers, the DCP said.
