Police raids on illegal moneylenders

RSD- Sircilla news:As per the instructions of Rajannasircilla District SP Akhil Mahajan IPS under the supervision of Sircilla DSP Udey Reddy, on 31.07.2023, Sircilla Rural CI Sadan Kumar and SI Venkateshwarlu along with the staff of Siricilla Rural CI Sadan Kumar and SI Venkateswarlu on reliable information that a person named Munigela Anjaiah was doing illegal high interest business in Sarampalli village in Thangalapalli mandal in the district. The Rural CI said in a statement on 01.08.2023 that raids were conducted on 31.07.2023 evening and property notes, bond papers, vehicles, legal documents, books and cash were seized from Anjaya’s house.

Details of total belongings:

1. 10 bond papers worth Rs 20,72,064/-
2. 8 promissory notes worth Rs 4,61,000/-
   3.21 Sadhabinama Papers and Books worth Rs 20,90,300/-
3. Cash Rs.1,50,000/-
4. A two-wheeler, a tractor.
   The above were taken into possession and handed over to Tangalapally Police Station for legal action.

On this occasion, CI Sadan Kumar said that
According to the orders of the District SP, the raids will continue as usual in the district, so legal action will be taken if the illegal moneylenders and chit fund traders do not change their methods. Borrowing and giving is not a crime, but according to the RBI regulations and the provisions of the Telangana Lending Act, it is illegal for anyone to do illegal money laundering without a license. Loans can be given and taken, but the district SP has warned that action will be taken as per the law if the common man is oppressed with high interest rates against the law.

Sircilla Rural Inspector Sadan Kumar, SI Venkateswarlu and police personnel are in this task.