Hyderabad: Adilabad police seized Rs 80 lakh unaccounted cash from the owner of a ginning factory when he was transporting it in his car at Punjab Chowk on Saturday.
“The cash belongs to Y. Madhav, the owner of the factory, and it was seized as he failed to show the source of the funds,” said Adilabad I-town sub-inspector, J. Gunvantha Rao, adding that the funds were handed over to Adilabad Returning Officer for a probe into the incident.
In another case, Madhapur SOT police nabbed a youth carrying Rs 23 lakh unaccounted money on Saturday.
The youth, identified as Govardhan Reddy, was carrying the bag of cash on his motorcycle when he was nabbed and the cash was seized.
When questioned about the money, his answers were unsatisfactory and he and the money were handed over to the IT department for investigation.
Police officials said that the guidelines stipulate that cash of over Rs 10 lakh should be seized and the same should be handed over to Income Tax department officials for verification of the source of the money.
They added that those carrying small amounts are asked for bank withdrawal receipts, message alerts on phone or other documents. If these are provided, they are released on the spot.
The aim of conducting vehicle checks and seizing money was to crackdown on illegal transactions made to influence voters.
Men are not allowed to carry more than Rs 2 lakh at any given point of time during the elections, the officials added....