Telangana Police bust hawala money racket, 3 arrested

Telangana Police have busted a hawala money racket in Telangana's Secunderabad. Police also recovered over Rs 16 lakh from the spot.

Hyderabad:The Mahankali Police have busted a hawala money racket near City Light Hotel in Secunderabad and apprehended three persons in the case. According to an official release, the police also recovered over Rs 16 lakh from the spot.

Accused Nayi Lalitkumar Chunilal is a native of Gujarat while Ashok Singh is a native of Rajasthan. The third accused is Nareddy Laxmikanth. Police said that Chunilal and Singh were residing in the limits of Begum Bazar, Hyderabad and working as hawala agents in around Hyderabad as well as other States.

They came in contact with those involved in hawala transactions. They transported Hawala money from one place to another on 5 per cent commission per lakh and shared the profits, according to the police.

"On 30 October, the accused persons-- Nayi Lalitkumar Chunilal and his associate Ashok Singh transported huge amount of unaccounted amount in a Honda Active for delivery to a customer Nareddy Laxmikanth Reddy near City Light hotel, Secunderabad, according to the police. Meanwhile, on credible information, the police apprehended them and seized the hawala money, police said.

(ANI)