Manappuram CFO arrested in Rs 20 crore theft from IIFR branch in Cuttack: police



The manager is being questioned in connection with the theft, police said. (Representative)


The manager of a branch of Manappuram Finance Ltd was arrested in connection with the theft of gold and valuables, worth around 20 crore rupees, at an IIFR branch in Cuttack, a senior police officer said on Friday.

He is being questioned by investigators in connection with the theft, said Deputy Police Commissioner Prateek Singh.

Police also obtained court permission to place five of the seven people arrested in the robbery case in pre-trial detention for three days, he said.

IIFR gold assessor Lala Amrit Ray, arrested on Tuesday, is among five people to be interviewed in detention, Singh said, adding that it has been established by the investigation team that he regularly used the mortgaged gold of the IIFR to contract loans with Manappuram. Finance.

“Since Manappuram’s CFO was dealing with Amrit for loans, he is now being questioned about it,” the officer said, without revealing further details.

Mr Singh, however, said the manager of Manappuram could be arrested if, on the face of it, his role in the incident is established.

The silver and gold, valued at over Rs 20 crore, were stolen from the IIFR’s Nayasarak branch in Cuttack last week.

At least seven people, including two company employees, have so far been arrested in connection with the case and police have recovered 1 kg of gold jewelry and Rs 5 lakh in cash.


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