Pramesh S Jain
Mahalakshmi Layout Police have seized Rs.2,98,00,900 in unaccounted cash from a shed in Kurubarahalli and arrested two persons in connection with the case.
The case has been registered under Section 98 of the Karnataka Police Act,1963 at the Mahalakshmipuram Police Station.
According to police,the seizure was made during a patrol on June 2,when PSI Rakesh and his team received credible information about a large quantity of cash being stored illegally in a shed on 11th Cross,Kurubarahalli. The shed reportedly belongs to Seshadri Industries.
On searching the premises,police found Rs.2,98,00,900 packed inside four bags.Officers immediately informed senior officials,following which the cash was counted through the night.
The money allegedly belongs to Nagaraj,a resident of Tavarekere,who had reportedly kept it in the shed of his friend Venkatesh in Kurubarahalli.
After informing the Income Tax Department and obtaining permission from the court,police registered an FIR under Section 98 of the Karnataka Police Act and arrested Nagaraj and Venkatesh.
During questioning, the accused allegedly claimed that the cash had been brought to repay a bank loan. However, they failed to provide satisfactory documents or explain the source of the money.
The Mahalakshmi Layout Police are continuing their investigation to ascertain the origin of the cash and whether it is linked to any illegal activities.
