Two youths held for 44 lakh loot

VADODARA: The detection of crime branch (DCB) arrested two youngsters on Monday for carrying out loot worth Rs 44.25 lakh in Mannappuram General Finance and Leasing Ltd (MGFLL) at Ajwa Road on September 5 last year.
Ketan Patel, 22, a resident of Arunoday Society in Alkapuri, claims he is a second semester student of Bachelors of Business Administration (BBA) in M S University (MSU).His friend and accomplice Parin Patel, 21, from Halol, claims he is studying for Bachelors of Commerce (BCom) in M P College there. They had carried out the loot as Ketan, who was also into some business, was facing a financial crisis. Investigations are on to find out whether they were involved in similar loots carried out in MGFLL branches in Mumbai and Bhopal last year.
"Ketan, who originally hails from Halol, was the mastermind behind the loot. He was in a deep financial crisis as his business was making losses. Parin agreed to help Ketan as he needed more money to support his lifestyle," said DCP (crime) Ashok Yadav. "Ketan got a country-made pistol from his friend in Bihar. The duo then chose MGFLL as it was close to the highway. They even chatted with the security a few days before the loot to check whether he was intelligent.
The duo after carrying out the loot had fled towards Halol, Yadav added. The police scanned thousands of mobile phone calls that were made from Ajwa Road area on the day of loot.
Some of the suspicious calls led them to Halol where the cops found labels of MGFLL at an isolated spot. "The crime branch got a tip-off that the duo will pass from Navayard-Chhani area on a motorbike on Monday. We intercepted the two suspects and questioned them. The duo confessed to have carried out the loot at MGFLL," Yadav said.
The cops recovered 2.5 kilogram gold ornaments worth about Rs 44 lakh and the motorbike that was purchased from the loot amount. Interestingly, the duo had deposited the gold ornaments looted from MGFLL's Ajwa Road branch in the same firm's Karelibaug and Warasia Road branch.