Daijiworld Media Network - Hubballi (RJP)

Hubballi, Oct 16: Old Hubballi police seized Rs 80 lac cash which was being transported from Kundapur and arrested three persons in Hubballi. They also confiscated the car which was used to carry the unaccounted cash.

Basavaraja Shanthappa Kaulagi from Vijayapura, M Arunakumara from Maravanthe and Jayakar Suvarna from Kundapur are the persons arrested.

The arrested persons were traveling from Kundapur to Vijayapura when they were intercepted at Hubballi on a tip-off. The police found Rs 80 lac in the car with notes of Rs 500 and Rs 1,000 denominations. The Maruti Wagon R belonged to Jayakar Suvarna.

Basavaraja Kaulagi is a prominent person from Vijayapura and runs a residential school. But it is not yet known why he was carrying such a big amount of cash without valid documents. He told the police that since he was constructing a new building for the school at a cost of Rs 2 crore, he was taking Rs 80 lac, which his friend in Kundapur had given to him, for this purpose.

However, the police were not convinced. They suspect that the amount could be part of some hawala transaction. Income tax officials were called and the investigations are on.