The Kochi city police has ruled out suspicion of an amount of ₹81 crore that was allegedly looted from a steel firm in Kundannoor by an armed gang on 8.
District Superintendent of Police (Kochi City) Putta Vimaladitya said on Friday (October 17) that the stolen amount was cash on account. He, however, said the police were probing the claims of those arrested in the case that the money was to be used for dubious deals.
The officer said that as many as 11 people have been arrested in the case and that a search is on for the suspect, who is still on the run.
Based on reports of the involvement of a Tamil Nadu-based gang in the incident, Mr Vimaladitya said the police had not found any evidence linking the incident to such a group. “All the accused we nabbed are from Kerala. It is not yet confirmed whether they were involved in other similar crimes. Although the accused claimed that the complainant was involved in a money laundering discussion, we did not find any evidence that the cash was kept in the store for such purpose,” said Mr. Vimaladitya.
Published – 17 October 2025 22:01 IST
