It took eight months of planning for the inter-state gang of dacoits involved in the Muthoot Finance gold heist in RC Puram at the outskirts of Hyderabad last month, the police said on Sunday.
The Cyberabad police arrested five members of the gang this week from Karnataka and Mumbai, including kingpin Laxman Narayan Mudhan. Three others were said to be absconding.
However, of more than 40 kg gold that was looted, the police only managed to recover 3.5 kg on Sunday.
Addressing the media, Cyberabad police commissioner Sandeep Shandilya said that several teams were formed to nab the gang, and their movements were traced through various CCTV cameras on the route from RC Puram to Wadi.
The police also outlined the detailed amount of planning by the accused, before the heist.
It was reported that Laxman chose the RC Puram branch as it had young staff, including several women, and heavy traffic movement outside. During his free time, he used to stand outside the branch, watch the employees and note the surrounding commercial establishments.
In December last year, the four conmen, gained access to the Muthoot office by posing as CBI officials, before threatening the staff with weapons and escaping with gold ornaments valued at about Rs 10 crore.
As the employees raised objections, one of the men whipped out a gun, threatened the branch manager and other employees and locked them in a bathroom.
The gang also took away the hard disk storing footage from the CCTV cameras with them.
They escaped in a black Scorpio car, which was caught on CCTV at multiple locations.
The police also said that the accused had changed the number plate of the car a few times, including right before the heist, to avoid being caught.
Out of the five people arrested, two of them were caught by the police while they were exchanging the stolen gold bars for cash.