Two booked for illegal finance business in Mancherial

Ramagundam Commissioner of Police M Srinivasulu said that Mande Satyam and Avula Sathyavathi were booked for organising unauthorised finance business in Luxettipet town.

Mancherial: Two persons belonging to Luxettipet town were booked for allegedly operating an illegal finance business and for charging hefty rates of interest.

Sixty-two promissory notes worth Rs 26.65 lakh and 38 bond papers were seized from their possession.

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Ramagundam Commissioner of Police M Srinivasulu said that Mande Satyam and Avula Sathyavathi were booked for organising unauthorised finance business in Luxettipet town. Satyam and Sathyavathi were found to be operating the business when police conducted raids on their houses.

Luxettipet Sub-Inspector Chandrakumar and Dandepalli SI Swarup Raj were present.