Cops Freeze Rs.8 Crore Transferred by Visaka Industries

Hyderabad: Hyderabad city police froze a recent online transaction valued at Rs.8 crore between Visaka Industries Pvt. Ltd, owned by Congress candidate from Chennur constituency G. Vivek, and Vigilance Security Services Pvt. Ltd.

Central zone DCP M. Venkateswarlu said that the transaction took place on November 13. On instructions from the Election Commission, Saifabad police visited IDBI Bank’s Basheerbagh branch and enquired about the alleged transaction and froze the account.

Inquiries revealed that the amount was transferred from an unknown account, which belongs to Visaka Industries Pvt. Ltd from HDFC Bank, Begumpet, to Vigilance Security Services account in IDBI Bank, Basheerbagh branch.

As it was a huge amount, Saifabad police froze the amount and informed the same to the district expenditure nodal officer, the Income-Tax department and joint director, Directorate of Enforcement of Hyderabad zone.

After appropriate verification of the transaction and of the account holders, action will be taken as under law, Venkateswarlu said.