₹7 cr looted from cash management firm’s office at gunpoint in Ludhiana - Hindustan Times
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7 cr looted from cash management firm’s office at gunpoint in Ludhiana

Jun 11, 2023 12:32 AM IST

Armed robbers decamped with ₹7 crore from the office of a cash management services company after holding five employees, including two security guards, captive in the New Rajguru Nagar locality in Ludhiana in the wee hours of Saturday

Ludhiana : Armed robbers decamped with 7 crore from the office of a cash management services company after holding five employees, including two security guards, captive in the New Rajguru Nagar locality in Ludhiana in the wee hours of Saturday.

Armed robbers decamped with <span class='webrupee'>₹</span>7 crore from the office of a cash management services company after holding five employees, including two security guards, captive in the New Rajguru Nagar locality in Ludhiana in the wee hours of Saturday.
Armed robbers decamped with 7 crore from the office of a cash management services company after holding five employees, including two security guards, captive in the New Rajguru Nagar locality in Ludhiana in the wee hours of Saturday.

They also took away two rifles of security guards, the police said.

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Around 2am, at least 10 robbers broke into the office of CMS - Connecting Commerce, a company that provides services to banks to fill cash in ATMs, after overpowering security guards and then escaped with the cash in a van of the company.

The van was later found at Pandori village in Mullanpur Dakha, around 10km from the office of the company. The police recovered two rifles snatched from the security guards in the van, but the cash was missing.

The Sarabha Nagar police have lodged a first information report (FIR) against unidentified persons and initiated investigations. The police have rounded up some employees of the company for questioning, as they suspect involvement of some insider in the crime.

The company employees told the police that the robbers entered the office by scaling the rear compound wall. They opened the main gate of the office and eight of them barged in, one of the employees told the police.

The robbers held the staff captive at gunpoint and locked them in a cabin after tying their hands and legs. They snatched rifles from security guards and also damaged mobile phones of the staff before decamping with 7 crore which was not kept in the chest. They also snapped all connections of sensors installed in the office, said the police.

The robbers also took away the DVR (digital video recorder of the CCTV cameras). The employees managed to free themselves and informed the police around 7am.

Commissioner of police Mandeep Singh Sidhu said at least 50 CCTV cameras were installed on the premises. The police have asked the company to provide cloud storage recording to identify the accused.

“We found gross negligence on the part of the company. The staff had come for morning shift, but their duty hours were extended and were asked to work on a 24-hour shift. The cash was not kept in the chest. Moreover, 12 more rifles of the company were kept in an almirah without any lock, which could have been misused,” said Sidhu.

“As the security guards and employees were overworked and tired, they failed to react in time. The police have formed several teams to crack the case. The involvement of an insider cannot be ruled out,” he added.

The police are also scanning the CCTV footage of nearby areas to ascertain the vehicle used by the robbers to come to the company’s office.

In a similar incident on February 12, 1987, a terrorist group robbed 5.7 crore from Punjab National Bank, Dholewal branch, at gunpoint. It was described as the biggest daylight bank robbery of India. The case was probed by the CBI. In 2017, the Supreme court had acquitted nine persons in the case.

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  • ABOUT THE AUTHOR
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    Tarsem Singh Deogan is a senior reporter at Ludhiana. He has 16 years of experience in journalism. He has covered all beats and now focuses on crime reporting.

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