Bank employee held for ₹8.70 crore theft:Accused carried cash in scrap boxes; bought ₹2 crore house ₹1 crore shop

In the ₹8.70 crore theft case at the RBI currency chest housed inside Bank of Baroda on Gandhi Road in Ahmedabad, police have arrested the bank custodian accused of masterminding the heist. CCTV footage from January 13, recorded at 9:12 PM, has now surfaced showing the custodian and his two aides allegedly carrying crores of rupees in cash disguised as scrap bags. The two accomplices have also been detained and are being questioned. The accused, identified as Harsiddh Kadiyar, was posted as custodian at the Bank of Baroda branch. According to police, he allegedly stole ₹8.70 crore from the RBI currency chest in a bid to earn quick money and lead a lavish lifestyle after years of service. Police have so far recovered ₹2.20 crore in cash from the accused. What was seen in the CCTV? The accused committed the theft on the night of January 13, 2026, which was captured on CCTV camera. As seen in the CCTV, the accused and his two accomplices are leaving the bank carrying bags filled with money. The accused had taken the money out by telling the security staff that he was going to sell scrap. In the CCTV, Sultan and Zulfikar are also seen helping the accused. The police have arrested them as well. Rs 50 lakh has also been recovered from the other two accused. Purchased a bungalow worth Rs 2 crore and shops With the stolen money, the accused had purchased a bungalow worth Rs 2 crore in Chandkheda, a shop worth Rs 1.40 crore, and a Chhota Hathi tempo worth Rs 15 lakh. The accused also gave Rs 23 lakh to Vaishali, who worked with him, for a house. Besides this, the accused had also invested more than Rs 1 crore in cryptocurrency. Approximately more than Rs 40 lakh has been recovered from the other arrested accused. The police are conducting further investigation in this matter to find out which other bank employees are involved. One responsible for overseeing the money committed the theft According to the complaint filed by Harihar Dev, Chief Manager of the Kalupur Gandhiroad Branch in Ahmedabad, a currency chest (large vault) has been maintained in the bank by the RBI, from where money is sent to other banks as per requirement. For accounting of this cash worth crores, Sanjay Sharma was working as the main custodian and Harsiddh Kadiyar (Res. Chandkheda, Ahmedabad) as joint custodian. When the time came for auditing the bank and the new custodians conducted an inspection, a total of 174 reels (bundles) of Rs. 500 denomination were found missing. The total value of which amounted to Rs. 8.70 crores. Accused took out boxes containing crores of rupees by calling it scrap When bank authorities immediately checked the CCTV footage, it was found that on January 13, accused Harsiddh Kadiyar was leaving the bank carrying some boxes. At that time, he gave an excuse to other staff that these boxes contained scrap and he was going out to throw away the scrap. On April 13, he took one day’s leave by messaging the Chief Manager that he was unwell. After that, he took 5 more days of medical leave and then disappeared from April 20 onwards. Police seized Rs. 2.20 crore cash from accused When police started investigation after the complaint was filed, the team of PSI V.H. Rathod from Zone 3 LCB Squad apprehended the accused from the Sola area. The accused was staying in a rented house in Sola. Police also found Rs. 2.20 crore cash in an Artica car parked below the rented house, which the accused had stolen. After arresting the accused, Rs. 2.20 crore, the Artica car and mobile phone were seized. During interrogation of the accused, it was revealed that the accused had committed the theft in January itself. The accused had stolen the cash under the guise of a scrap shop and taken it to his home. After that, believing that the CCTV footage would be deleted in 90 days, he even continued working for 90 days. After 90 days of the theft, he made excuses and stopped coming to work. Harsiddh Kadiyar’s wife is a Head Constable in Railway Police The accused’s wife is a Head Constable in Railway Police. After the complaint was filed, the accused went to Manali with his family for a vacation. However, the accused came to know in Manali that a complaint had been filed and the police were searching for him, so he fled from there as well on some pretext. Two other persons are also involved with the accused who do the work of cash transfer, one of whom was Sultan and the other was Zulfikar. The police have detained both and started interrogation. Accused has been an employee of Bank of Baroda for 15 years
The accused had been working in Bank of Baroda for the last 15 years. After working for years, the accused has confessed to committing theft to live a comfortable life. Investigation is ongoing whether the accused’s wife was involved or not. It is suspected that other persons are also involved with the accused, which the police are investigating. ​