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Two other bureaucrats — K S Kropha and K C Samria — were also awarded 3-year jail term.
Special Judge Bharat Prasar sentenced other convicted persons Vikas Patni, MD of Vikash Metals and Power Limited, and its authorised signatory Anand Mallick to a 4-year jail term.
A fine of Rs 1 lakh was imposed on the company.
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The offences for which they had been convicted entail a minimum punishment of one year in jail, going up to a maximum of seven years.
The court had on November 30 convicted Gupta, former joint secretary in Ministry of Coal Kropha and the then director (CA-I) in the ministry Samria.
It had also convicted the firm, Patni and Mallick.
The case pertains to alleged irregularities in the allocation of Moira and Madhujore (North and South) coal blocks in West Bengal to VMPL.
In September 2012, the CBI had registered an FIR in the case.