Daijiworld Media Network- Khozikhode

Kozhikode, Jun 13: In a breakthrough development, Kerala Police on Friday apprehended Shibin Lal, the prime accused in the sensational theft of Rs 40 lakh from ESAF bank staff in Kozhikode. Lal had been on the run since Wednesday after executing a daring snatching act involving bank officials.

The incident unfolded when Lal approached ESAF bank officials with a request to re-pawn gold jewellery that was already pledged at a private financial institution. ESAF Bank, which permits takeovers of gold loans from other banks, dispatched eight officials with Rs 40 lakh in cash, in line with their rule that two staff accompany every Rs 10 lakh during such transactions.

Upon reaching the private finance office, Lal allegedly misled the group, insisting that only two officers enter the premises. As the duo proceeded, Lal swiftly snatched the bag containing the money and sped off on a two-wheeler, which was later found abandoned.

Following a detailed inquiry and statements from the involved bank staff, police intensified their search and finally located Lal. Though he is now in custody, the stolen cash remains untraced as of Friday afternoon.

Authorities have begun interrogating the accused and remain hopeful of recovering the stolen amount. Lal is expected to be produced before a local court later in the day.