MD of top Power firm held at Begumpet Airport

Unaccounted cash of Rs. 34 Lakhs recovered

The Managing Director of a leading Power and Infrastructure firm was held at the Begumpet Airport for holding unaccounted cash to a tune of Rs. 34 Lakhs.

The Managing Director is believed to have arrived to Hyderabad from New Delhi by flight of Indian IC 940 on Saturday morning. However his registered bagged mistakenly got transported to Chennai. The baggage was back in Hyderabad on Sunday evening.

Officials of the Income Tax Department (Investigation) say that the Managing Director has confessed that the cash is unaccounted. The officials however did not reveal the name of the MD or the firm.

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