India News | T'gana Polls: Hyderabad Police Freeze Rs 8 Crore Belonging to Private Firm

Hyderabad, Nov 19 (PTI) A sum of Rs 8 crore which was transferred online from a bank account allegedly from building material manufacturer Visaka Industries to a security service provider here was freezed by city police in the run up to the Telangana Assembly polls, in view of the high-value transaction, police said on Sunday.

Congress candidate G Vivekananda, promoter of Visaka Industries, is contesting from Chennur Assembly constituency.

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"On the reference of Chief Electoral officer, Telangana regarding the transaction of Rs 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 Rs 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 Rs 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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)