HYDERABAD: The Hyderabad Task Force sleuths on Friday busted a hawala racket and arrested five persons involved in the case. They seized `1 crore hawala money from them.The arrested are M Eshwar Reddy, Rajesh Sharma, Ramraj Parmar, Prakash Singh, and Vishal Sawanth.
On tip off, the Task Force sleuths intercepted Eshwar Reddy at Gowliguda and found him with a bag containing unaccounted cash of `80 lakh.
Reddy told the police that he on the instructions of one Raj Kumar, MD of Dynamic Tools Ltd, collected the cash from Rajesh Sharma, Prakash Singh and Ramraj Parmar.Based on leads, police arrested them for possessing unaccounted cash of `21 lakh. The arrested persons and seized cash was handed over to Income Tax (IT) department for further action.