Chandigarh: The cash van robbery case involving Rs 8.49 crore of cash management service provider CMS -- Connecting Commerce was solved by the Ludhiana Police with the help of counter intelligence in less than 60 hours, according to the Punjab Director General of Police Gaurav Yadav on Wednesday.
He said that out of the 10 people who were accused of being involved in the planning, 5 of the main ones had been caught and a big recovery had been made.
Investigations are ongoing, he added.
Armed masked robbers had decamped with Rs 8.49 crore from the office of a cash management services company after holding five employees, including two security guards, captive in the New Rajguru Nagar locality in Ludhiana on June 10.
The burglars stormed the building at 1:30 a.m. and fled an hour later.
According to New Rajguru Nagar Police Commissioner Mandeep Singh Sidhu, the outdated security system at the CMS company's office in Aman Nagar was reckless and put the lives of employees at risk.
According to the police commissioner, during the inquiry it was discovered that the company's security system was not functioning and that corporate managers knew about it but did not take it seriously because the money was insured.
Special teams had been formed to track the criminals.—Inputs from Agencies