Hyderabad: Police seizes Rs 3.9 crore, arrests six people
The police has handed over the cash to the Income-Tax department for further action.
Hyderabad: About Rs 3.9 crore cash was seized in separate incidents in Hyderabad and Vikarabad on Tuesday.
The police has handed over the cash to the Income-Tax department for further action. During vehicle checking at Pillar No. 59 of Attapur under the Langer Houz police station limits, the police intercepted a car (TS 05 EJ 2526) and seized `2.4 crore cash from six persons — manager of Photon Energy Systems Limited, M. Sridhar Reddy, A. Suresh, P. Bhasker, M. Mohan, V. Sharvan and P. Raj Naveen.
Langer Houz inspector Ch Srinivas said that the cash was being transported to Suryapet. Since they failed to produce relevant documents pertaining to the transportation of the cash, they were taken into custody and handed over to the I-T department.
The cash is said to be of Gautham Reddy, brother of Telangana Pradesh Congress Committee president N. Uttam Kumar Reddy. However, it it yet to be confirmed if the cash was meant for any political use. Investigation is underway.
In another incident at Vikarabad town, a car was stopped by the static surveillance team as part of the vehicle checks and found Rs 1.5 crore cash, packed in four bags, containing India Post logos on them. Driver claimed that the cash was being taken from Vikarabad to Tandur and it belonged to a post office.