Illegal finance companies raided in Peddapalli, Rs 12 lakh cash seized

Commissioner of Police V Satyanaryana said that 15 special teams comprising personnel from Task Force, Special Branch, CCS and local police was formed to conduct raids on unauthorised finance companies

Peddapalli: Ramagundam Commissionerate police swooped on unauthorised financial companies and arrested nine persons on Friday.

Commissioner of Police V Satyanaryana, in a statement, said 15 special teams comprising personnel from Task Force, Special Branch, CCS and local police was formed to conduct raids on unauthorised finance companies that were collecting high interests from innocent people in the name of daily financing.

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The teams carried out raids on illegal finance companies in Peddapalli and Mancherial districts. Raids were also carried out in the houses of daily financers who were collecting high interest from people in the name of girigiri (daily finance).

In Mancherial, Adepu Shankar (Sri Sri Venkateshwara Hire Purchase), Bhupathi Mallesh, Embati Satyanarayana and Gunta Illaiah of Navabharath Finance), Ch Thirupati and Alugu Srinivas of Snehanjali Finance were arrested.

Marku Sadaiah of Rajivnagar of Peddapalli, Gurram Srinivas of Godavarihani and Mantri Shyam Sunder of Shakthi Jewellery of Godvarikhani were also arrested.

Rs 12 lakh cash, 283 blank cheques, 198 blank promissory notes, 16 bank passbooks, 45 ATM cards, 488 customer loan files, 8 daily registers, bank statement files, receipt books, firm registration certificates, and customer insurance certificates were seized from them.

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