Sharmili Mallick

Cuttack: The Twin City Police Commissioner Sudhansu Sarangi on Saturday informed that as many as 10 persons have so far been arrested in connection with the sensational India Infoline Finance Ltd (IIFL) loot case and the number of arrest is expected to increase as the investigation proceeds.

Sarangi reviewed the investigation of the case in Cuttack and discussed the steps to be taken by the investigation team further.

"The probe in connection with the Naya Sarak dacoity has been expedited. A team of police officers under the supervision of DCP Cuttack is investigating the matter. At least 10 persons have been arrested so far and the number of arrests will increase further as many people are involved in the case at different stages since 2016," said the Police Commissioner.

"We are in touch with the IIFL's headquarters in Mumbai and procuring the audit report and other important documents related to the business," added Sarangi.

Sarangi also revealed that around 10 kilograms of gold have been recovered. "The prime accused Lala Amrit Ray has stolen gold from the branch and kept it in different places in different names. As the investigation is still on, the exact amount of gold misappropriated by him is yet to be ascertained," stated Sarangi.

Lala Amrit Ray was working in the company for the past five years. He along with a senior woman officer of the private finance company, Nilima Lenka of Purighat, had allegedly planned the loot and were earlier arrested by the Commissionerate Police.

Sarangi further informed that the gold seized by the police will be taken to the district armoury and will be returned to the IIFL after detailed verification.

Earlier in the day, the Commissionerate Police arrested two gold traders- Saroj Prusty and Lalit Kumar Sodhi of Mangalabag and Alamchand Bazar respectively for their alleged involvement in the case.

It is mentioned here that cash and gold, worth over Rs 20 crore, was robbed from IIFL's Naya Sarak branch in Cuttack on November 19.

Preliminary investigation by the police revealed that both Amrit and Nilima, who were working as gold loan auditors, had cleverly swindled returns of depositors by not deleting their names from creditors’ list of the company. Apart from them, a manager in a private gold loan firm had also been arrested in the middle of his marriage procession by the Crime Branch.

(Edited By Rashmi Ranjan Mohanty)