Rs 12 Cr Cuttack Heist: 10 Minutes & All Gone; As & How It Happened

OB Bureau

Cuttack: A planned operation executed with clockwise precision. Here, we are talking about what could be the biggest-ever robbery in Odisha in which four-armed miscreants looted cash and jewellery worth Rs 12 crore from the branch of IIFL Finance, a leading non-banking finance company, in the busy Nayasarak area here.


>> The four miscreants wearing masks and helmets arrived at the target in two motorcycles on Thursday morning.

>> They entered the office as soon as it opened when there were barely four staff.

>> They overpowered the lone security guard and rounded up others.

>> The officials were asked to open the lock of the strong room at gunpoint.

>> The robbers mopped up almost all packets containing gold jewellery before moving to cash in the strong room.

“They looted cash amounting to Rs 4.30 lakh and gold ornaments worth Rs 8 to Rs 10 crore. The exact worth of the loot can be ascertained only after the audit report is tallied. The incident happened in just 10 minutes.”

Satyam Pradhan, IIFL’s Nayasarak Branch Manager 

IIFL Finance Limited is a major non-banking financial company that gives gold loans, business loans including loans against property and microfinance.


>> CCTV camera of the branch was not functional when the robbery took place.

>> The security guard who has a licensed gun was on leave, while the one present had no resistance to offer.

>> There was no siren installed in the branch.

PC: Twitter

“It appears like a planned operation. A special team has been formed and we are hopeful of solving the crime soon.”

Twin City Commissioner of Police Sudhanshu Sarangi

The borders of the city have been sealed and police officials of neighbouring Jagatsinghpur, Jajpur, Dhenkanal and Kendrapara have been alerted.

“We are verifying the CCTV footage collected from the firm and the nearby shops to get clues.”

DCP Cuttack Prateek Singh

Last month, the Commissionerate Police had advised banks and financial institutions to improve security systems at branches and ATMs.


OB Bureau

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