The bureaucrat-turned-entrepreneur, former IAS officer Sanjay Gupta was arrested by the CID-Crime Branch in Gandhinagar on Thursday evening for alleged irregularities worth Rs 113-crore in Ahmedabad metro rail project under the Metro-link Express for Gandhinagar and Ahmedabad (MEGA) Company Ltd.

According to source in the MEGA, the FIR was lodged against seven former MEGA officials by MEGA Co. Ltd for the corruption in land filling material. Gupta was the chairman of MEGA between 2011 and 2013.

Sources revealed that additional DGP of CID Crime Meera Ram Niwas investigated the case and Gupta was arrested based on her findings. Gupta is expected to be produced before the court tomorrow morning.

The 1985-batch IAS, Gupta has to his credit the successful foray in the natural gas grid in the state and turnaround of state-owned energy player Gujarat State Petroleum Corporation Limited.

Gupta was made the chairman of Metro-link Express for Gandhinagar and Ahmedabad (MEGA) Company Ltd, the special purpose vehicle for the Metro project, in April 2011 but he resigned in August 2013 to return to his multiple business interests under the Neesa Group of Companies. With the aim to fund his own companies and of other entrepreneurs, Gupta launched private equity fund, Let India Fly Foreover (LIFE) with fund size of Rs 250-300 crore fund in September 2013.

Gupta had left the civil services in 2002, after Narendra Modi became the chief minister of Gujarat. Known for his networking expertise and turning around of the state-run energy player GSPC Group, Gupta was also associated with the Adani Group as an advisor. Later he ventured into hospitality business through his own Neesa Leisure Limited under the Neesa Group, which once touched Rs 2,000 crore turnover with about 3,000 employees on its rolls.

According to sources in the know, Gupta's companies including the hospitality business faced severe financial crisis while several ventures like a TV new channel couldn't take off.

His hospitality business includes six luxury hotels and two golf properties. While other Neesa Group companies include Neesa Leisure Ltd, Neesa Infrastructure, Neesa Agritech and Food, Orient Spa, Neesa Technologies, Neesa Financial Services, Neesa Township & Properties and Cambay SEZ Hotels.

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