5 Men Rob Jewelery worth Rs 12 Crore, Rs 10 Lakh Cash from Udaipur Branch of Manappuram Finance

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By CNBCTV18.com IST (Released)

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There were only five employees and one client present at the Manappuram Finance office at that time. The robbers pulled weapons from the bags they were carrying and asked everyone present to move to a corner of the main room. They threatened to shoot if those present did not follow the instructions

Five masked men looted a non-banking financial company and escaped with gold jewelery worth Rs 12 crore and Rs 10 lakh in cash in Udaipur on Monday.

The men held Manappuram Finance employees hostage at gunpoint, news agency PTI reported. Kerala-based Manappuram Finance provides gold lending services to its clients.

According to Udaipur Commissioner of Police, Vikas Kumar Sharma, the thieves entered Manappuram Finance branch at Pratap Nagar in Udaipur about 25 minutes after the office opened, the Hindustan Times reported.

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The five men on bicycles entered the office through its unguarded front door, police said.

Only five employees and one client were then present at the Manappuram Finance office. The robbers pulled weapons from their bags and asked everyone present to sit in a corner of the main room. They threatened to shoot if those present did not follow the instructions.

According to the police, the robbers also took people’s mobile phones and disconnected the landline.

Durgesh Sharma, an employee of Manappuram Finance, told Hindustan Times that one of the masked men stood guard at the main entrance gate, while two others held those in the room hostage under threat of a weapon. Two others burst into the director’s room. Employees were tied with ropes and pushed to the ground, Sharma said.

When the manager refused to give the safe keys, he was beaten by the thieves, the employee said. The assistant manager was then asked for the keys. It was only after the robbers pointed a gun at the manager’s head that he handed over the keys.

Police said two thieves then hid the jewelry and cash in two bags while one guarded the manager and his assistant.

They then scampered off with the loot after tying up the manager and his assistant and locking the main door from the outside. The five robbers fled on two motorcycles parked on the ground floor, police said.

One of the employees was able to detach his hands and call the police around 9:50 a.m. Police investigated CCTV footage and found the thieves leaving the building around 9.40am, showing no signs of panic.

Although the exact value of the looted jewelery remains to be determined, the official estimated that the thieves decamped with 20 kg of gold worth around Rs 12 crore and Rs 10 lakh in cash, police said.

Police are also investigating the possibility of insider work as the thieves were aware of the layout of the office, including the vault. They were also checking if the thieves had also visited the office earlier.

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