2 held for stealing ₹1.30 crore from ICICI Bank ATMs in Hyderabad

HYDERABAD: The Central Crime Station of Hyderabad City police arrested Gundelli Krishna, custodian at Securevalue India Ltd, who in collusion with a former employee Rapaka Rajashekar, siphoned off Rs 1.30 crore cash meant to be loaded in 20 ATMs of ICICI Bank. 

Securevalue India Ltd deals with cash replenishment services at Hyderabad for ICICI Bank. Based on a complaint by its General Manager M Srinivas Rao, a case under Sections 420, 409, 408, 411 109 of the Indian Penal Code (IPC) was registered.Krishna, who is responsible for replenishing cash in ATMs, siphoned the amount. 

Police found that he had committed the fraud at the instance of Rajashekar. The latter was earlier arrested for a similar offence of siphoning funds from ATM machines.Police seized Rs 16.43 lakh cash from the accused and produced them in court.