Alprazolam seizure leads EAGLE Force to ₹4-crore property trail in Zaheerabad drug case

What began with the seizure of 770 grams of Alprazolam has led investigators to properties worth an estimated ₹4 crore, as Zaheerabad Town Police and the EAGLE Force followed the money trail of an alleged drug trafficking network.

Properties linked to accused Vishwanath Karbhari Shipankar and his relatives have now been seized under provisions of the NDPS Act following a financial investigation into the alleged proceeds of the drug trade.

The investigation stemmed from the apprehension of Shipankar and others by Zaheerabad Town Police in Sangareddy district. Police had seized 770 grams of Alprazolam, an SUV, three mobile phones and ₹7.5 lakh in cash during the operation.

The police teams began examining where the money generated through the suspected network had gone and whether it had been converted into movable and immovable assets.

Investigators scrutinised financial transactions and property records to trace the source and ownership of assets associated with the accused. Revenue passbooks, sale deeds, property tax receipts, building permissions, vehicle registration certificates, purchase invoices and other ownership and financial documents were examined.

The exercise identified immovable properties associated with Shipankar and his relatives. While their government-assessed value is around ₹1.40 crore, investigators estimated their prevailing market value at approximately ₹4 crore.

The financial investigation sought to establish the ownership structure of the properties, the source of funds used to acquire them and their alleged links to proceeds generated through narcotics trafficking.

Following the investigation and confirmation by the competent authority in Mumbai, the identified properties were seized on September 22 under Section 68(F) of the NDPS Act, according to the police.

The provision allows authorities to act against illegally acquired property linked to narcotics offences. The investigation involved tracing and identifying such assets through examination of property and financial records.

The investigation into the wider network and its financial trail is continuing.