India, July 31 -- A special PMLA (Prevention of Money Laundering Act) court has refused to initiate legal proceedings against Abhishek Gupta, the chartered accountant who claims to be the whistle-blower in the multi-crore Torres Jewellery fraud. While refusing to issue process against Gupta, the court observed that there was no material to indicate his involvement in any activity connected to the proceeds of crime.

The court, on Tuesday, issued process against the remaining 12 individuals and entities named in the chargesheet by the Enforcement Directorate, which has estimated the fraud at Rs.177.11 crore.

"Accused No 10, the auditor, appears to have reported the irregularities and non-compliance in his audit report," observed special s...