Four persons masquerading as CBI officials loot 40 kg of gold from Muthoot Finance in Telangana

40 kilograms of gold was robbed from a Muthoot Finance branch in branch in neighbouring Sangareddy district of Telangana on Wednesday. Around four persons entered the branch at R C Puram area at around 9.30 am and posing as CBI officials they told the staff they are checking money exchange and later threatened them on gun point and robbed gold before fleeing away in a four-wheeler, Deputy Commissioner of Police (Madhapur Zone) Vishwa Prasad said.

Preliminary reports said around 40 kg gold was robbed from the finance branch. However, police said they are in the process of collecting more details from the staff.

“We are verifying...the exact quantity has to be ascertained,” said Cyberabad Joint Commissioner Stephen Raveendra.

This is the third incident of robbery in Muthoot Finance post demonetisation. Recently, five kilograms of gold jewellery worth around Rs 90 lakh was also looted at gun point by three unidentified persons from a branch of Muthoot Finance–gold financing company– at Dhoraji town, Rajkot.  

In another incident, around Rs 90 lakh was looted from a Muthoot Finance branch in Dhoraji, Gujarat.           

According to reports, around 3-4 people are reportedly being said to be involved in this incident and further probe in the case is underway. However, it has not been cleared yet whether the money was in new or old currency notes.