Telangana Polls: Hyderabad Police Seize Rs 8 Crore Belonging to Private Firm
GG News Bureau
Hyderabad, 20th Nov. The Hyderabad police have frozen a sum of Rs 8 crore that was transferred online from a bank account belonging to Visaka Industries, a building material manufacturer, to a security service provider. This action was taken in light of the upcoming Telangana Assembly polls and the large amount of money involved in the transaction. G Vivekananda, who is contesting from the Chennur Assembly constituency, is the Congress candidate and also the promoter of Visaka Industries.
“On the reference of Chief Electoral officer, Telangana regarding the transaction of ₹ eight crore which has taken place between M/s Visaka Industries Pvt Ltd and M/s Vigilance Security Services Pvt Ltd, the Saifabad Police team visited the bank’s branch at Basheerbagh and enquired about the alleged transaction of ₹ 8 crore and freezed the amount,” a release from Hyderabad Police said.
During the enquiry, it was revealed that, on November 13 an amount of ₹ 8 crore was transferred from one unknown account which belongs to M/s Visaka Industries from a private bank located in Begumpet to the bank account of M/s Vigilance Security Services, it said.
As the alleged transaction was in a huge amount, Saifabad Police freezed it by addressing a letter to the branch manager of the private bank and also informed it to the District Expenditure Nodal Officer, Nodal Officer, Telangana State Assembly election, Income Tax department and Joint Director, Directorate of Enforcement of Hyderabad Zone for the purpose of verification of huge amount transaction, the release said.
After verification of the account which belongs to M/s Visaka Industries and receiving account of M/s Vigilance Security Services Pvt Ltd, action will be taken as per the law, the police added.
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