The court also convicted the then joint secretary K S Kropha, then director K C Samaria in the coal ministry and others in the coal case.
However, chartered accountant Amit Goyal has been acquitted in the case.
Besides Gupta, Kropha and Samaria, the court has also convicted the firm KSSPL and its managing director Pawan Kumar Ahluwalia.
The CBI had alleged that the application filed by KSSPL for the coal block was incomplete and was supposed to be rejected by the ministry as it did not adhere to the issued guidelines.
The CBI had charged that the firm had represented its false net worth and existing capacity.
The accused have denied all the allegations made at them.
In October 2016, the court had framed charges against the accused. This was because they had observed that former prime minister Manmohan Singh was kept in the “dark” by Gupta, who had violated the law and the trust reposed in him on the issue of coal block allocation.