Sagar (Madhya Pradesh), Nov 19 (NationPress) In a significant operation against unlawful money transfer operations, the police of Sagar district intercepted a vehicle on the Sagar-Bhopal highway in Madhya Pradesh and seized Rs 4 crore in unaccounted cash suspected to be hawala funds intended for Maharashtra.

Following actionable intelligence, a dedicated team from the Moti Nagar police station set up a checkpoint near the Rahatgarh bypass around 11 p.m. on Tuesday. When the vehicle was instructed to halt, the occupants attempted to flee but were swiftly pursued and apprehended. During the inspection, bundles of Rs 500 and Rs 2,000 notes were discovered cleverly hidden beneath the rear seats and within secret compartments.

Initial investigations indicated that the cash was being smuggled from Madhya Pradesh to Maharashtra using the hawala route, police sources reported.

"The case has been referred to the Income Tax department," stated a reliable source to IANS.

Two individuals were promptly arrested—a driver from Nagpur and a co-passenger hailing from Indore—both of whom could not provide legitimate documentation for the substantial cash, violating Income Tax and RBI regulations regarding cash movement, according to police sources.

"The confiscated money is the result of illicit hawala transactions. We have handed over the suspects and the cash to the Income Tax Department for further investigation," the source added.

Income Tax teams from Sagar and Jabalpur have initiated a thorough investigation to trace the financial origins and ultimate beneficiaries of the funds.

Officials confirmed that the counting of the currency has been conducted under video surveillance at the Moti Nagar police station, and Income Tax officials have been notified.

Sources suggest that the police are exploring potential links between this operation and possible funding for anti-national activities, although no concrete connections have been established thus far. They anticipate further raids at various locations to unravel the complete money trail, as leads from the mobile phones of the arrested individuals may reveal connections to a larger network.

This marks the second significant hawala seizure in Madhya Pradesh, underscoring heightened scrutiny by both central agencies and state police concerning cash movements during the election period. The accused have been charged under relevant sections of the Income Tax Act and IPC.

Additional arrests are expected as the investigation unfolds.