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Ludhiana police commissioner Rakesh Agrawal said on Tuesday that the firm, Infoline Finance Limited (IIFL), had not employed any armed guard and its security alarm system was not up to the mark. All branches of the firm in town have been closed till they comply with the security requirements.(HT file photo)

30-kg gold theft in Ludhiana linked to similar thefts in financial firm’s Mumbai, Valsad branches?

By HT Correspondent
PUBLISHED ON FEB 18, 2020 11:08 PM IST
Ludhiana police commissioner says six men robbed a gold loan centre of 20 kg of ornaments in Mumbai on September 19, 2019, in a similar way. On January 9, six men executed a robbery at a gold loan branch of the IIFL in Valsad, Gujarat, and made off with 35kg of ornaments
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Ludhiana police commissioner Rakesh Agarwal after inspecting the India Infoline Finance Limited branch from which 30kg of gold ornaments was robbed on Monday morning.(Gurpreet Singh/HT)
Ludhiana police commissioner Rakesh Agarwal after inspecting the India Infoline Finance Limited branch from which 30kg of gold ornaments was robbed on Monday morning.(Gurpreet Singh/HT)

30kg gold looted from finance firm in Ludhiana

By Tarsem Deogan | Hindustan Times, Chandigarh, Ludhiana
UPDATED ON FEB 17, 2020 11:02 PM IST
The robbers executed the crime in 25 minutes soon after the financial service company’s branch, located opposite Punjab Police’s crime investigation agency unit 3 office, opened around 10am
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Indians’ penchant for gold spans centuries and is rooted in the Hindu religion. Households own an estimated collective 25,000 tonnes of gold, which passes from one generation to the next.(REUTERS PHOTO.)
Indians’ penchant for gold spans centuries and is rooted in the Hindu religion. Households own an estimated collective 25,000 tonnes of gold, which passes from one generation to the next.(REUTERS PHOTO.)

Indians begin pawning family gold amid credit crunch

By Reuters | Aurangabad/Mumbai
UPDATED ON AUG 22, 2019 02:07 PM IST
Mandlik, who owns an 8-acre cotton farm in western India, pledged 70 grams of gold, almost all of his wife’s precious trinkets, in June in return for Rs 1,50,000.
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