Five Arrested After Security Agency Owner Abducted and Robbed of 1.09 Crore Rupees

The Madanayakanahalli police have arrested five suspects in connection with the armed abduction and ₹1.09 crore robbery of a private security agency owner and his driver near Kuduregere Colony in Dasanapura hobli on the night of June 15, 2026. The heist was allegedly masterminded by an insider working for the victim, who tipped off the gang about a large cash transit.

The victim, 41-year-old R.I. Shivashankar, owns a private security agency. On the night of the incident, Shivashankar and his driver, Chethan, had collected ₹74 lakh during a business meeting in Yelahanka.

As they drove near Kuduregere Colony, their vehicle was intercepted by seven armed men travelling in an SUV and on a motorcycle. The gang threatened the duo with weapons, abducted them, and forced Chethan to drive to Shivashankar's residence.

Upon reaching the house, the suspects threatened Shivashankar's family and forced his wife to hand over an additional ₹35 lakh. The gang then fled with a total of ₹1.09 crore in cash, leaving the victims abandoned in a secluded area near Nelamangala.

Following a complaint registered at the Madanayakanahalli Police Station, police launched an investigation. Using technical evidence and intelligence inputs, officers tracked down and arrested five suspects in multiple operations conducted between June 20 and June 24. One of the arrested individuals was an employee of Shivashankar who had allegedly shared information about the cash transport with his associates.

During the arrests, police recovered ₹85.5 lakh in cash, two cars used in the crime, three mobile phones, and a toy pistol that was allegedly used to intimidate the victims. Part of the stolen money was recovered from the houses of the accused and their associates.

Police Commissioner Seemant Kumar Singh stated that several members of the gang remain absconding, and active efforts are underway to trace and arrest them.

Investigators also suspect that the ₹1.09 crore may be linked to another offence. They are currently questioning Shivashankar regarding the origin and source of the money. Police noted that legal action will be initiated if any wrongdoing is uncovered during this aspect of the investigation.