Armed robbers loot gold from IIFL branch in Gujarat town

A gang of armed robbers descended on a financial services company and decamped with gold and other valuables worth crores of rupees here in Gujarat's Valsad district on Thursday morning, said police.

The robbery took place at a gold loan branch of IIFL, in the industrial town of Vapi. The firm is engaged in providing loans for homes, against gold, personal and vehicle finance among other services.

While the IIFL staff along with company auditors are calculating the actual loss, police sources said the robbers fled with around 1,000 packets, containing gold jewellery worth approximately Rs 7 crore.

The masked robbers, numbering around half a dozen, stormed into the IIFL's gold loan branch, situated on the busy Vapi-Silvassa road, and threatened the staff with guns and other weapons, the police said.

To eliminate any chance of resistance, the looters tied the hands of eight staff members using duct tapes and also stuck tapes on their mouth, they said.

The robbers opened the lockers using keys taken from the staff and decamped with the booty, the police said.

"Robbers targeted an IIFL gold loan branch today morning. They decamped with gold and other valuables by threatening the staff.

"We are yet to ascertain the value of the looted gold. Further investigation is on," said district SP Sunil Joshi.

In the CCTV footage, the robbers can be seen coming out of the office carrying bags and rushing towards the road where they get into a waiting car and escape.

A police officer said the robbery appears to be the handy work of a professional gang from adjoining Maharashtra. Vapi is located close to the Maharashtra border.