Police says illegal financiers were extorting money from poor and middle class people.
In a crackdown by Hyderabad police, 31 illegal financiers have been detained in the old city on Monday. Around 160 kilograms of silver has also been seized.
Speaking to ANI, V Satyanarayana, Deputy Superintendent of Police (DCP) South Zone, Hyderabad, said they have apprehended 31 illegal financiers who were extorting money by taking blank cheques and promissory notes from the poor and middle class people.
The city police have seized many documents from these illegal financiers and have filed 14 cases against them.
"We are putting PD Act (Preventive Detention Act) on the financiers who have been repeatedly found involved in these offences," added Mr Satyanarayana.
The South zone police also conducted raids at businessman Narayan Rathi's residence and seized 165 kilograms of silver including ornaments and raw material of which he had no appropriate bills or documents.
The businessman has been taken into custody by Falaknuma police for further inquiry.For other Hyderabad news,
click here.