A sum of ₹8 crore, which was transferred online from a bank account allegedly belonging to a building material manufacturer Visaka Industries to a security service provider in Hyderabad, was stopped by city police in the run-up to the 30 November Telangana Assembly polls, in view of it being a high-value transaction, police said on Sunday, 19 November.
Congress candidate G Vivekananda, also the promoter of Visaka Industries, is contesting from the Chennur Assembly constituency.
“On the reference of the Chief Electoral Officer, Telangana, regarding the transaction of ₹8 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 Basheer Bagh and enquired about the alleged transaction. They froze the amount,” a statement from the Hyderabad Police said.
Saifabad police enquiry
During the enquiry, it was revealed that on 13 November, 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 froze it by addressing a letter to the branch manager of the private bank and also informed 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 a huge amount transaction, the statement said.
After verification of the sender account, which belongs to M/s Visaka Industries, and receiver account, M/s Vigilance Security Services Pvt Ltd, action will be taken as per the law, the police added.
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