The four arrested persons include – Kanti Lal, Kishore Singh, a distributor, Pep Singh, agent, Mohammed Abdul Fareed and Sandeep Singh, identified customers
The four arrested persons include – Kanti Lal, Kishore Singh, a distributor, Pep Singh, agent, Mohammed Abdul Fareed and Sandeep Singh, identified customers
Hyderabad city police’s Task Force (central zone) on Saturday busted an hawala transaction at an electrical godown at Troop Bazar, and arrested five persons. A total of ₹63.50 lakh allegedly part of the transaction was seized from them.
Disclosing details on Sunday, the police said the electrical godown, Ranuja Marketing, was raided based on a tip off, and reportedly money collection and distribution was in progress at the time. The unaccounted cash was packed in a bag and another polythene, the police said.
When questioned, the police stated, the owner of the godown, Kanti Lal, revealed that he was a sub-operator in the hawala business under a main operator named Jog Singh.
Lal receives instructions and sends the money to customers. On Saturday, the transactions include Lal handing over ₹42 lakh to one Fareed and Sandeep Singh. And an amount of ₹21.5 lakh was received from one Kishore Singh, which he allegedly collected from one Dilip of Feelkhana, and Pep Singh.
The four arrested persons include – Kanti Lal, Kishore Singh, a distributor, Pep Singh, agent, Mohammed Abdul Fareed and Sandeep Singh, identified customers. They were handed over to Afzal Gunj police for further procedure.
₹20 lakh seized
In a separate incident, the Panjagutta police late on Saturday seized ₹20 lakh from two persons during a vehicle check exercise near The Park Hotel. Police said the car occupants, Maheshwar and Venkateswarlu, businessmen, could not produce any documentary proof to account the cash, hence the cash was seized.
A probe was opened.