It has been 2 years since demonetisation was announced by PM Modi. The main aim of demonetisation was to put an end to black money and terrorism funding. However, the report card for this decision was disappointing.
There was neither an end to black money, nor there was an end to terrorism. Instead there was an increase in Hawala business. There are reports of another Hawala case from Telangana.
Hyderabad Police has arrested 4 people who were found with Rs 7.5 crore in Banjara Hills area. It is being alleged that these notes were to be illegally distributed to voters during elections.
Hyderabad Police commissioner said that this money was transferred to fake companies of Hawala operators online. Police has arrested Sunil Kumar Ahuja, Ashish Kumar Ahuja, Mohammad Azam and Raj Purohit in this case.
At the same time, police has informed the matter to the Income Tax Department and ED. There will be a further investigation in the matter.
It is note that there will be Assembly elections in Telangana on 7th December. Police and authorities are alert for the upcoming elections. Each and every vehicle is being inspected.
Earlier, Hyderabad police had caught 1 crore 20 lakh 50 thousand during checking on 29th October.