KARIMNAGAR: Sircilla police conducted raids on the residences of private money lenders who were running the finance businesses illegally without any permission in Vemulawada and Sircilla towns and seized the non-judicial stamp papers, land registration papers, promissory notes and cheques worth Rs 4.19 crore and Rs 13.95 lakh in cash from their houses in Rajanna Sircilla district on Saturday.
With the orders issued by the district Superintendent of Police Akhil Mahajan, 14 police teams raided simultaneously on the residences of money lenders and arrested four Sircilla including P.Nagaraju (55), B.Naveen Kumar (46), M.Kondaiah ( 74 ) P.Shiva Prasad (45) and one person from Vemulawada town D.Dasharatham (60).
Bind-over cases were registered against eight persons identified as V. Lakshman, G.Narayana, K.Srinivas and A.Prabhakar, all residents of Sircilla town, and K. Kishan, K.Shekar, M.Venkatesham and P.Balaraju of Vemulawada.
SP Akhil Mahajan said they were lending money at higher interest rates and torturing the people for loan recoveries in violation of RBI guidelines.
