India's Biggest Cash Heist: Rs 400 Crore Disappears in Belagavi, SIT Probe Launched

Belagavi / Nashik, Jan 25: One of the largest and most sensational robbery cases in India has surfaced months after it allegedly took place, following a complaint of kidnapping and illegal detention in Maharashtra.

Two container trucks carrying approximately Rs 400 crore in cash from Goa to Maharashtra reportedly went missing in the Chorla Ghat region of Khanapur taluk in Belagavi district, triggering a multi-state investigation spanning Karnataka, Maharashtra, and Goa.

According to official records, the incident occurred on October 16, 2025, but remained undisclosed until January 1, 2026, when Sandeep Patil, a resident of Nashik, lodged a formal complaint with the Nashik police. The case has since been described by investigators as potentially the biggest cash robbery in the country’s criminal history.

Maharashtra police investigations have revealed that the cash consignment belonged to Kishore Shetty, a prominent real estate developer from Maharashtra. The two containers, allegedly transporting over Rs 400 crore in cash, disappeared while passing through the forested and high-risk stretch of Chorla Ghat, an area known for poor surveillance and difficult terrain. The containers were reportedly carrying withdrawn Rs 2,000 denomination currency notes, adding to the seriousness of the case and raising questions about the legality, source, and intended use of the funds.

Kidnap led to exposure of hijack

The case came to light after Sandeep Patil alleged that he was kidnapped at gunpoint by associates of Kishore Shetty a few days after the containers went missing. In his police complaint and later video statement, Patil claimed he was illegally confined for nearly one and a half months, accused of orchestrating the container hijack, and subjected to severe physical and psychological torture.

“They told me I would be killed if I did not return the Rs 400 crore or arrange money,” Patil stated in his video, breaking down emotionally. He further alleged that his captors demanded either information about the missing cash or Rs 100 crore in currently circulating currency, threatening him with death if he failed to comply. Patil eventually escaped and approached the Nashik Police, directly referring to the missing cash containers in his complaint.

While official records mention Rs 400 crore, Patil has alleged that the actual amount involved could be over Rs 1,000 crore, calling the case a “massive financial scam”. He has also accused two Maharashtra police officers of being involved, claiming they made threatening WhatsApp calls and pressured him to remain silent. According to Patil, there were attempts to suppress the case by exerting police influence, and he later came to believe that Kishore Shetty’s own associates were responsible for the disappearance of the containers. Patil has sought police protection, stating that his life is under threat.

Following the kidnapping complaint, Maharashtra police launched an operation and arrested four accused persons. Two key accused remain absconding, and search operations are underway across multiple states. Police sources indicated that the recovery of the containers and cash is likely only after the remaining accused are apprehended.

Taking cognisance of the gravity of the case and the enormous sums involved, Maharashtra Chief Minister and Home Minister Devendra Fadnavis ordered an investigation by a Special Investigation Team (SIT). The Maharashtra government has formally written to Belagavi Superintendent of Police K Ramarajan, seeking full cooperation. The Goa police have also been asked to assist, and a joint inter-state investigation has been launched.

Confirming receipt of the official communication, SP Ramarajan said the case falls under inter-state jurisdiction and assured that all necessary information and technical assistance would be extended to the Maharashtra SIT. Investigators are also examining a possible political angle, amid suspicions that the cash may have been used during recent local body elections in Maharashtra. The SIT has been instructed to probe the source of the money, the purpose of its transportation, and its final utilisation, officials said.

As the probe widens, the case continues to raise serious questions about unaccounted cash movement, law enforcement complicity, and the delayed disclosure of what could be India’s largest-ever cash robbery.