The employees at the non-banking financial company were allegedly tied up and held at knifepoint by the armed robbers, and police are suspecting the role of an employee in the incident.

Police outside Chennai NBFC where robbery happened Police outside Chennai NBFC where robbery happened
news Crime Sunday, August 14, 2022 - 10:21

A group of armed robbers barged into the Arumbakkam branch of a non-banking financial company (NBFC) in Chennai on Saturday, August 13, and looted gold and valuables worth crores of rupees, reports said. The employees at the NBFC were allegedly tied up to chairs by the robbers and held at knifepoint while the place was being robbed. The incident happened at a branch of Fedbank Financial Services Ltd (Fedfina), located on the busy 100 feet road in Chennai’s Arumbakkam, around 3.30 pm on Saturday. It has been suspected that a Fedbank employee and his associates may have been involved in the crime, as the robbers managed to flee on motorcycles after the theft. 

A preliminary investigation has revealed that money and gold jewellery worth around Rs 20 crore has been robbed from the NBFC. According to NDTV, around 32 kg of gold was stolen and there were three masked robbers involved. The police have also secured CCTV footage of the robbery, and the suspects have been captured on surveillance cameras. Four special police teams have been formed to nab them. According to the Times of India, the robbers offered a sedative-laced drink to the security guard and entered the branch after he fell unconscious. They allegedly threatened the branch manager and other employees with a knife, took the locker key, and confined them in a room. 

Police suspect that an employee named Murugan was the one who robbed the branch with his associates. "We believe it must be the work of an employee. We are interrogating all the employees ... Four special teams have been formed and they are currently investigating," Additional Commissioner of Police, Law and Order, North, TS Anbu told reporters after meeting senior officials of the NBFC in the city. 

Robbery suspect Murugan

"We have identified the employee. He has been working as a regional development manager … Everything is under investigation...We will nab him soon," he said responding to a query. According to The Hindu, Chennai Police Commissioner Shankar Jiwal said that the police investigation has pointed to the involvement of a staff member named Murugan and two of his associates. Murugan’s work as regional development officer involved canvassing for loans, the report said.  

Since the incident occurred at the NBFC which is located close to Jawaharlal Nehru Salai, one of the arterial roads in the city, security has been tightened at the place. According to the Fedbank Financial Services Ltd (Fedfina) website, the company has over 463 branches across the country. It caters to products like gold loans, home loans, loans against property and business loans.

With PTI inputs 

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