2024 bank heist: Few locker holders get contents back; wait continues for others

The handover, however, offers only partial relief to dozens of families who lost valuables worth crores in the December 2024 incident

LUCKNOW More than a year after one of Lucknow’s most audacious bank robberies, police on Tuesday returned recovered gold and silver jewellery to 14 locker holders of Indian Overseas Bank’s (IOB) Matiyari branch, following court orders.

Police on Tuesday returned recovered gold and silver jewellery to 14 locker holders. (Sourced)

The handover, however, offers only partial relief to dozens of families who lost valuables worth crores in the December 2024 incident. It all happened on December 22–23 night in 2024, when a gang broke into the IOB Matiyari branch by demolishing a wall and cut open lockers using specialised equipment. As many as 42 lockers were looted, with jewellery and cash worth crores stolen. The case was registered at Chinhat police station under relevant sections of the BNS.

In November 2025, HT had reported that nearly 50 families affected by the heist were still waiting for most of their valuables, with many saying they had received only 10–25% of what was recovered, despite repeated visits to police stations and claims of recovery.

A joint team of police officers later claimed to have cracked the case, arresting several members of the gang. Police said large quantities of gold. silver ornaments and cash were recovered from the accused. Two accused were killed in encounters, while others were arrested.

Following directions of deputy commissioner of police (east zone), a special team led by the assistant commissioner of police, Vibhuti Khand, conducted a detailed identification process of the recovered valuables. The procedure was videographed, after which the jewellery was securely stored at the Sadar Malkhana in Lucknow.

“On January 27, 2026, complying with court directives, police invited locker holders to the Sadar Malkhana and handed over recovered jewellery to 14 applicants. Police said the release was done strictly as per legal procedure and based on court orders,” said ACP (Vibhuti Khand) VK Dwivedi.

Some families reported severe emotional distress, legal battles and financial strain following the incident. While the latest handover has brought relief to a section of victims, many families are still waiting for clarity on the fate of their missing jewellery and the pace of restitution.