Illegal finance business is strictly prohibited- district SP
RSD- district news: According to the orders of the district SP Akhil Mahajan IPS, on 30.06.2023, the district police formed 14 teams and simultaneously conducted inspections on the houses of people involved in illegal finance and interest business in the towns of Sircilla and Vemulawada under the district.
Details of Total Possession in Checks
Cash seized is about Rs.13,95,120/-, 113 checks worth Rs.4,19,09,250/-, 71 blank checks signed by the victims, one check book, promissory notes -(14), land registration papers (06) ,(03)money counting machine’s,(01)empty register,(02)Bank pass book’s,one chit fund transfer application book,(01)note book’s containing chit business name and small book’s pertaining to chits.
Inspections were conducted in 4 houses within the limits of Sircilla Town Police Station and cases were registered against 4 people, their details.
- P. Nagaraju, 55y. 67 bank checks worth Rs.2,80,14,250/-, 10 empty checks signed by the victims, and Rs.4,00,000/- in cash were seized.
- Seizure of land registration papers of Bootla Naveen Kumar, s/o Sudarshan, 03
3.Maccha Kondaiah, s/o Chinna Veeraiah, 42 bank worth Rs.1,31,50,000/-, 02 empty checks signed by the victims, 01 promsari note seized
- Palakonda Sivaprasad, s/o Kishan, 04 bank cheques, 41 blank checks signed by victims, Promissory notes, 03 land registration papers worth Rs.7,45,0000-/ were seized.
Inspections were conducted in the area of Vemulawada Town Police Station and a case was registered against one person, their details.
- Dusa Dasharatham, s/o Shankaraiah, (05) promissory notes, 18 bank cheques, (03) money counting machine’s, (01) empty register, (02) Bank pass book’s, one chit fund transfer application book, (01 )note book’s containing chit business name and small book’s pertaining to chits.net cash Rs 9,95,120/- Ownership.
Details of those who did bindover.
- Wangari Laxman s/o Narsaiah, Sircilla, 2. Gattu Narayana s/o Rajaiah, Sircilla, 3. Kasanigottu Srinivas s/o Hanumandlu, Sircilla. 4. Anugula Prabhakar, s/o Narsaiah, 5. Pedda Balaraju Vemulawada, 6. .Katakam Kishan, Vemulawada, 7. Komuravelli Shekhar, Vemulawada, 8. Mudrakola Venkatesham, Vemulawada 09. Katakam Srinivas, Vemulawada. Bindover has been done.
SP warned that strict action will be taken as per the law if the finance is conducted without permission and the common man is put in trouble with high interest rates.
SP said that strict legal action should be taken against the traders who take advantage of people’s financial needs and charge high interest from them by giving money on interest.
The SP requested that people should not put their families in trouble by committing suicide by and not being able to pay the debts and high interest rates by borrowing large sums of money for their emergency and temporary needs.
The SP requested that only those who conduct finance in legal methods with the permission of the government should be trusted and that the details of those who run illegal finance business without any government permission, their details can be given to him at the district police office and also complain to the local police and dial 100. Keeping the details of those who gave the information confidential and conducting a thorough investigation He said that the police department is working with the aim of getting justice for the victims.
Taking and giving loans is not a crime, but according to RBI rules and provisions of the Telangana Lending Act, anyone can give and take loans without a license.
In this inspection CI Mogili, Upender, Krishnakumar, Karunakar, Venkatesh, SI Maruti, Kiran Kumar, Srinivas, Tirupati, Balakrishna, Venkatarajam, Lakshmareddy Premadeep, Nagaraju. Police personnel participated.
