Daijiworld Media Network – Bengaluru
Bengaluru, Nov 25: In one of the most dramatic cash van robberies seen in recent years, Bengaluru police have now arrested nine people and recovered Rs 7.01 crore of the Rs 7.11 crore looted from a CMS ATM cash replenishment vehicle, as investigators piece together a complex trail involving insider collusion, serial number tracking, and startling staff negligence.
The heist, executed in the heart of the city near Ashoka Pillar in Bengaluru South when the cash van was travelling from a J P Nagar bank, had sent shockwaves across the country. The gang, posing as RBI officials, intercepted the van and fled with the massive consignment, prompting a multi-unit police operation.
Police made their first major breakthrough within 76 hours, arresting key suspects including Ravi, constable Annappa Naik, and Xavier, along with four others. Two additional suspects were detained later, taking the total arrests to nine, police sources confirmed. Constable Annappa Naik has since been suspended from service, officials added, amid allegations of internal support for the robbery.
Major cash recoveries from lodges, homes and leads
A turning point came when the South Division police seized Rs 54 lac from a Hyderabad lodge where suspects Ravi, Naveen and another accomplice were hiding.
During interrogation, Naveen revealed that more cash had been concealed at his residence in Kuppam. Acting on the information, police raided the house on Monday (Nov 24) night and recovered an additional Rs 47 lac, bringing the total recovery to Rs 7.01 crore.
Investigators also learned that another Rs 10 lac had reportedly been handed over near a Sumanahalli Junction tea stall, though this trail is still under verification. Search operations continue for the remaining amount.
Background checks conducted during the probe revealed that accused Ravi has a criminal case pending against him, while another suspect is named in a murder case.
How the gang spent the loot: Just Rs 1 lac used
Despite the scale of the heist, police discovered that the gang had spent only Rs 1 lac from the stolen amount.
According to their statements, the money was used to buy two mobile phones — a OnePlus device for Rs 40,000 and another phone for Rs 20,000 — as well as fuel, food, and two days of lodge expenses. They also distributed small sums of Rs 5,000–Rs 10,000 to individuals who had assisted them in minor ways.
Serial number tracking aids recovery
To accelerate the money trail, police contacted HDFC Bank, which issued the consignment of Rs 7.11 crore, and obtained the serial numbers of all the notes. Using the list of missing serial numbers, investigators have been tracing and recovering the stolen cash across multiple locations.
ATM van staff under fire for ‘serious negligence’
During the investigation, officers uncovered what they described as a troubling lapse by the ATM cash van staff. Despite transporting more than Rs 7 crore, the team had allegedly gone for lunch without informing police, even after the robbery had occurred. The lapse has now become a key point of scrutiny, with Siddapura police examining whether negligence by staff aided the gang’s plan.
CMS tightens security after heist
In response, CMS — the cash logistics firm operating the van — has bolstered security at its Rajajinagar facility and other sub-branches. Vehicles transporting cash are now being deployed with two custodians, a gunman, and upgraded camera surveillance.
The company is also monitoring staff movements more closely, though allegations persist that lapses — including vans operating without a gunman or custodian — had been common prior to the robbery.
Police continue interrogating the nine suspects in custody, while the search for the remaining stolen cash and possible additional accomplices remains underway.