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Rs 1.01 crore hawala cash seized, five held in Hyderabad
The Hyderabad Commissioner’s East Zone Task force sleuths on Friday busted hawala racket and arrested five persons, who were carrying out illegal money transfer at two different places in the limits of Afzalgunj police station and seized net cash of Rs 1.01 crore from them.
Hyderabad: The Hyderabad Commissioner's East Zone Task force sleuths on Friday busted hawala racket and arrested five persons, who were carrying out illegal money transfer at two different places in the limits of Afzalgunj police station and seized net cash of Rs 1.01 crore from them.
According to City Police Commissioner Anjani Kumar, task force sleuths have arrested M Eshwar Reddy (56, Hyderabad), Rajesh Sharma (43, Maharashtra), Ramraj Parmar (25, Madhya Pradesh), Prakash Singh (35, Rajasthan) and Vishal Sawanth (29, Maharashtra).
CP said, on December 16, on credible information, the sleuths intercepted Eshwar Reddy in Gowliguda area while he was carrying unaccounted cash of Rs 80 lakh in a traveller bag without valid documents.
During enquiry, he revealed that he came and collected the cash from Rajesh Sharma, Prakash Singh and Ram Raj Parmar at Osman Shahi in Gowliguda on the instructions of one Raj Kumar, MD of Dynamic Tools Limited.
Based on the information given by Eshwar Reddy, the sleuths arrested the accused in Gowliguda, who were in possession of unaccounted cash of Rs 21.5 lakh in a bag.
On enquiry, the accused failed to show valid documents. The police seized the total cash of Rs 1.01 crore from them and handed over to the Income Tax department for further investigation.
