STATE TIMES NEWS
Ludhiana: The police on Monday said no arrests have yet been made in connection with the heist of over Rs 8 crore at a cash management services company here.
The robbery, which took place at CMS Securities in the New Rajguru Nagar locality here on Saturday, is being considered one of the biggest heists in Ludhiana in the recent past.
Additional Deputy Commissioner of Police Shubham Aggarwal said ten teams have been formed to nab the accused who broke into the office around 1.30 am and decamped with the cash in a van of the company.
At least eight robbers were involved in the heist, where they overpowered four security guards of the building and disconnected all the wires and took away the DVR (digital video recorder) of the CCTV cameras, Aggarwal said.
Preliminary investigation revealed that the main gate of the office was of poor quality, he added. Earlier, the company officials reported that the robbed amount was around Rs 7 crore. However, after the final counting of the remaining cash, the stolen amount was pegged at Rs 8.49 crore.
On the day of the incident, Ludhiana Police Commissioner Mandeep Singh Sidhu said the cash van, used by the robbers to escape was found near Mullanpur Dakha, adding that two weapons were also found in the vehicle.
Highlighting the negligence of the company, Sidhu said the cash was not kept in the currency chest but outside.
About 16 cash vans of the company were parked inside the premises when the robbery took place, police said. In 1987, Ludhiana had seen a loot of Rs 5 crore from a nationalised bank on GT Road by militants.