HYDERABAD: In a major catch, the Banjara Hills police on Thursday conducted raids on the residence of a businessman and found Rs 3.3 crore unaccounted cash in possession.
Police suspect that the cash was kept at the businessman’s residence for distribution to public during Lok Sabha elections.
According to police, on a tip off, they conducted searches on the residence of one Anil Agarwal, located on Road No 10 in Banjara Hills. During the searches, the police found gunny bags in which cash in the denominaton of `2,000 and ` 500 bundles was found.
Police seized the cash and questioned the businessman. He claimed that the cash belonged to his jewellery shop.