In a dramatic break in one of Karnataka’s highest-value heists in recent memory, the Vijayapura district police on Thursday announced the arrest of four men in connection with the daring robbery that saw around ₹21 crore worth of gold ornaments and cash looted from the State Bank of India’s Chadchan branch.
The Heist — Modus Operandi & Execution
On 16 September at about 6:30 pm, three masked assailants entered the SBI branch in Chadchan town, posing as ordinary visitors (reportedly to open a current account).
Once inside, they brandished country-made pistols and knives, forced staff members to lie down or remain still, tied them up, and gained access to the strongroom. In their escape, the robbers made off with over ₹1 crore in cash and approximately 20 kg of gold ornaments, valued at around ₹20 crore — bringing the total estimated loot to approximately ₹21 crore.
The robbers fled in a Maruti Eeco vehicle. The getaway route led them towards Maharashtra, where the car later met with an accident in Hulajanti village, Solapur district.
When a crowd gathered around the crash site, one of the suspects allegedly threatened villagers with a pistol and fled on foot, abandoning the vehicle.
At the crash site, police recovered 21 packets containing 888.33 grams of gold jewelry and ₹1,03,160 in cash from the abandoned Eeco.
Over a two-day cordon and search in the vicinity, investigators located a bag hidden on the terrace of an abandoned house containing 6.54 kg of gold ornaments and ₹41,03,000 in cash. Additional recoveries from residents who had taken items from the abandoned vehicle yielded 1.587 kg of gold and ₹44,25,060 in cash.
Overall, so far, authorities have retrieved about 9.01 kg of gold and ₹86.31 lakh in cash from the arrested individuals and related finds.
The Suspects & Their Roles
Three men from Bihar — Rakesh Kumar Sahani (22), Rajkumar Ramlal Paswan (21), and Rakshak Kumar (21) — were apprehended in Samastipur district. The police allege they were responsible for procuring or supplying illegal firearms used in the heist.
A fourth suspect, arrested from Maharashtra on October 7, is believed to have been a key planner or conspirator. The police are withholding his identity for investigative sensitivity.
According to investigators, this individual made multiple reconnaissance visits (“recces”) to the bank in Chadchan ahead of the robbery.
He also allegedly stole a vehicle in Mangalvedha, Maharashtra, for use in the heist.
During his arrest, police seized 55 grams of gold bangles and a motorcycle believed to be part of the crime logistics.
Authorities say they have identified two additional suspects involved in the heist, whose identities are known, and further efforts are underway to bring them into custody.
The Investigation & Manhunt
Realizing the scale and cross-state nature of the crime, the Vijayapura police formed seven special teams to pursue leads, coordinate with agencies in other states, and execute intelligence-driven operations.
Analysis of technical evidence and inputs indicated that the firearms used in the robbery had connections to Bihar. Acting on that, teams traveled to Bihar to arrest the weapon suppliers.
The accidental crash of the getaway vehicle in Maharashtra proved to be a turning point in the investigation, enabling the recovery of a portion of the loot and leading to the uncovering of the route, hiding sites, and the network.
At every stage, police have repeatedly stressed that the investigation is ongoing and that further recoveries are expected. They also maintain that the identities and roles of all accused (including those evading capture) have been ascertained, and arrests are likely soon.
A Closer Look at the Criminal Network
This bank robbery, apart from its scale, displays features of careful planning, interstate logistics, and a division of labor among the criminals:
Reconnaissance and planning: The lead conspirator’s repeated visits to the bank suggest he studied entry/exit routes, staff routines, security systems, and blind spots.
Vehicle and logistics: Stealing a car for the express purpose of the crime (from Mangalvedha) points to detailed preparation. The use of a motorcycle and Gold ornaments (to perhaps misdirect or hide parts of the loot) also complements the plot.
Arms procurement: The fact that three accused were responsible for supplying weapons from another state indicates layered networking and possible arms smuggling links.
Distribution of loot and cover operations: The stash-and-abandon strategy (throwing a bag onto a terrace, spreading loot among locals) suggests attempts at obfuscation and slowing down the trail for investigators.
Cross-state coordination: The escape route (towards Maharashtra), cross-jurisdiction landings, and seizure of loot across state boundaries show that the gang anticipated police pressure and attempted to stay mobile.
Despite the arrests, a significant fraction of the loot is yet to be traced, and at least two suspects remain at large. Police say their identities are known, and intensive manhunts in multiple states are ongoing.
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