Three of the four employees of a cash transfer firm, who had disappeared last week with Rs 7.5 crore of the Axix Bank after the money was given to them to ferry to the bank's branch in another city have been arrested.
City Police Commissioner M Chandra Sekhar said the trio were arrested yesterday by a Special Investigation Team of the Karnataka police, which also recovered Rs 6.3 crore of the bank's money from them.
"The police team tracked them down to Kodagu and with the help of local police, succeeded in arresting three persons and recovering Rs 6.3 crore from them," said Chandra Sekhar.
He said those arrested yesterday were Karibasava, 24, gunmen Poovanna, 38 and Kariyappa, 46.
They were nabbed from Somwarpet area in Kodagu district and Rs 6.3 crore of the total Rs 7.5 crore recovered from them, he said.
The four employees of SIS Prosegur Holdings were assigned on May 11 to transport Rs 7.5 crore by a van from Yeyyadi branch of Axis Bank here to its branch in Koramangala in Bengaluru.
After loading the van with the currency, they went missing and the empty van was later located at Hunsur.
The special police team which cracked the case and made the arrests comprised 18 personnel led by Assistant Commissioner of Police Shruthi.
A 10-member police team was formed by Kodagu Superintendent of Police P Rajendra Prasad to assist the special team in the probe.
The teams searched various places, including Bengaluru, Mysuru, Hassan and Kodagu and nabbed the culprits from Kumbaragadige forest area in Somwarpet in Kodagu district.
The fourth accused in the case, Bhaeemayya, was still absconding, the police commissioner said.
Sekhar said more persons, including employees of the Axis Bank, are being questioned.
Police could only recover Rs 6.3 crore and the remaining amount could be with the absconding person, he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)