IIFL 20-Crore Robbery Case: Manappuram Finance Manager Held As Police Claims Heist Was An Inside Job

IIFL Gold Robbery Case -It has been ascertained by the investigating team that gold appraiser Lala Amrit Ray was regularly utilising the mortgaged gold of IIFL to take loans from Manappuram Finance.

Representational Image.

IIFL Finance gold heist: Even as the Odisha police has claimed to have cracked the daylight robbery at the Nayasarak branch office of the IIFL Finance on November 19, a manager of a branch of Manappuram Finance Ltd has been detained in connection to this case on Friday. Also Read: Kangana vs BMC Case: Bombay HC Calls Demolition At Actress' Place A Malafide Intent, Orders Compensation Of Damage What’s the Rs 20 crore robbery case all about? Four armed men wearing masks and helmets had entered the Nayasarak branch office of the IIFL Finance, an NBFC, at around 9.50am on November 19, threatening the security guard at gunpoint. The robbers were able to steal gold jewellery worth Rs 20 crore that were mortgaged by hundreds of IIFL customers for various loans. The robbers had locked the bank staff in the office toilet before they committed the robbery. As per the PTI report, cash and gold, valued at over Rs 20 crore, was robbed from IIFL's Nayasarak branch in Cuttack last week. At least seven persons, including two employees of the company, have so far been arrested in connection with the case and police have recovered 1 kg of gold jewellery and Rs 5 lakh in cash from them. What’s the claim of police? As per the report in the Hindustan Times, the police claimed to have solved the puzzle. According to the report, the robbery was planned by Lala Amrit Ray, who worked in the Nayasarak branch of IIFL for the last five years. The heist has been planned because of the fear of getting caught in the audit in a case of embezzlement. As per the report, Ray’s brother Lala Ranjan Ray, who worked in another gold-leasing firm, too, was arrested for embezzlement of 1 kg gold in his company. The insider role besides negligence in security also came to the fore during investigation. To carry out the heist, Ray sought help from childhood friend Bapu alias Ranjan Behera, who in turn got four others from his village to arrive at the bank soon after it opened. What’s the current status? The manager involved in the case is being questioned by the investigators and the police has received the court's permission to take five of the seven arrested on remand for three days. On Tuesday, IIFL's gold appraiser Lala Amrit Rayhas been arrested and is among the five to be questioned in custody. The report added that it has been ascertained by the investigating team that he was regularly utilising the mortgaged gold of IIFL to take loans from Manappuram Finance. The Manappuram Finance manager held has been dealing with Amrit for loans, and being questioned in this case.  However, the Manappuram manager could be arrested if, prima facie, his role in the incident is established, as per police official.