The Ahmedabad Police arrested Harsiddh Kadiyar, a joint custodian at the Bank of Baroda, for allegedly embezzling Rs 8.7 crore. The theft was uncovered when officials at the bank’s Kalupur branch reported the disappearance of 174 bundles of Rs 500 notes from the currency vault, which is also used to conduct transactions for the Reserve Bank of India.

The investigation began when bank staff noticed that significant amounts of currency were missing. Kadiyar, who had worked at the bank for 15 years, was assigned to manage the vault alongside chief custodian Sanjay Sharma. The discovery raised suspicions about potential internal misconduct.

CCTV Footage Reveals Theft

An examination of the bank’s CCTV footage revealed crucial evidence regarding the theft. On January 13, Kadiyar was observed leaving the premises with multiple boxes, which he falsely claimed contained refuse headed for disposal. This deception allowed him to leave the bank undetected, and he continued to work for an additional 90 days before disappearing.

After the initial three-month period when the footage would typically be overwritten, Kadiyar reportedly informed his manager of health issues and subsequently filed for five days of medical leave on April 13. He failed to return to work after April 20, prompting the bank manager to file a complaint with local law enforcement.

The police acted swiftly upon receiving the complaint, leading to Kadiyar’s arrest shortly thereafter. During questioning, he admitted to the alleged theft. His confession initiated a detailed investigation into the overall circumstances surrounding the crime.

Use of Stolen Funds and Ongoing Investigation

Furthermore, investigators are looking into the possible involvement of Kadiyar’s wife, who serves as a head constable in the Railway Police. The ongoing inquiry aims to uncover the extent of her knowledge, if any, regarding the embezzlement. Authorities are expected to release more details as the investigation progresses.

Kadiyar also reportedly transferred Rs 28 lakh to a colleague named Vaishali Ben. In the course of the investigation, police discovered Rs 2.2 crore in cash hidden in an Ertiga car parked outside a residence in Sola, where Kadiyar had been staying. The authorities have seized the vehicle along with Kadiyar’s mobile phone as part of their evidence collection.

Furthermore, investigators are looking into the possible involvement of Kadiyar’s wife, who serves as a head constable in the Railway Police. The ongoing inquiry aims to uncover the extent of her knowledge, if any, regarding the embezzlement. Authorities are expected to release more details as the investigation progresses.

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