Staff Reporter

HYDERABAD: The City Police on Wednesday busted a racket of illegal money transfer with the arrest of seven persons after raiding a house at Chappal Bazar in Kachiguda. An amount of Rs. 24.04 lakh was seized from their possession, a press release said.

All the arrested persons, along with the cash, were handed over to the Income Tax officials for further investigation. The racket, also known as ‘Hundi’ business, was being organised by Dinesh of Gujarat.