Archive · 20 Aug 2026
Ex-Bank Manager Arrested Over Rs 81 Lakh Gold Theft
A former bank manager in Mumbai was arrested for allegedly stealing gold from a customer's locker.
The customer was Pradeep Motiram Bhatia, who lives in Dubai.
Bhatia had 610 grams of gold in the locker.
He noticed the gold was missing when he returned to Mumbai after almost two years.
Police followed the former manager's bank transactions.
They found that about Rs 9 crore had moved through his accounts over two years.
Police also checked records from gold loan companies.
Photos of gold pledged there matched the description of Bhatia's missing gold.
All the gold was recovered four days after the arrest.
Former IndusInd Bank deputy branch manager Ramchand Sahani was arrested in Mumbai.
He allegedly stole 610 grams of gold worth Rs 81.8 lakh from an NRI's locker.
The complainant, 74-year-old Dubai resident Pradeep Motiram Bhatia, found the gold missing after returning to Mumbai.
Police traced Sahani through bank accounts that recorded Rs 9 crore in transactions over two years.
The entire stolen gold, valued at Rs 81.8 lakh, was recovered within four days of his arrest.
- Who
- Ramchand Sahani, a 35-year-old former deputy branch manager at IndusInd Bank, was arrested; Pradeep Motiram Bhatia filed the complaint.
- What
- Sahani allegedly stole 610 grams of gold worth Rs 81.8 lakh from an NRI's bank locker.
- When
- The theft was discovered after Bhatia returned to Mumbai following nearly two years; the gold was recovered within four days of Sahani's arrest.
- Where
- The case was reported in Mumbai, involving an IndusInd Bank locker and gold loan firms.
- Why
- The articles do not state the alleged motive.
- Accused
- Ramchand Sahani, 35, a former IndusInd Bank deputy branch manager
- Complainant
- Pradeep Motiram Bhatia, 74, a Dubai resident for 52 years
- Gold stolen
- 610 grams
- Estimated value
- Rs 81.8 lakh
- Account transactions
- Rs 9 crore over two years
- Recovery
- The full stolen gold was recovered within four days of the arrest