The Hindu : Karnataka / Bangalore News : Estate agency staff robbed of Rs. 10 lakh

Online edition of India's National Newspaper
Friday, Jun 01, 2007
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Karnataka

Karnataka - Bangalore

Estate agency staff robbed of Rs. 10 lakh

Staff Reporter

BANGALORE: A gang of six men robbed the employees of a real estate agency of Rs. 10 lakh cash at gunpoint on Castle Street in Ashoknagar police station limits on Thursday.

The police said employees of R.S. Developers withdrew Rs. 1.2 crore from the ICICI Bank's M.G. Road branch near Mayo Hall.

Two employees transported Rs. 60 lakh in a car and three others carried the remaining money in a van. Around 3.30 p.m., when the car was moving on Castle Street, one of the gang members pretended to be crossing the road. As the driver pulled up to allow him to cross the road, the stranger smashed the windows and pointed a pistol at the driver asking him to stop the vehicle. Within seconds, another member of the gang wrenched open the rear door, assaulted Rajesh and Muthu, the two employees of R.S. Developers and snatched two bags containing Rs. 50 lakh and Rs. 10 lakh respectively. The gang left the bag containing Rs. 50 lakh on the road and sped away. The police said the Rs. 50 lakh bag contained currency of Rs. 100 denomination and it was heavy. The gang must have dropped the idea of carrying a heavy bag on the two-wheeler, which makes escape a difficult task, the police added. The busy Castle Street is a one-way and is narrow as parking is allowed on one side of the road. The police said the robbers were four in number and had used a toy pistol to threaten the employees. The Ashoknagar police have registered a case and are questioning the employees of the real estate agency. Ravinchandra Reddy owns R.S. Developers on St. Mark's Road.

On May 16, a five-member gang waylaid an employee of a land developer and robbed him of Rs. 8 lakh in cash on Koramangala Ring Road.

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