It is one of the most ingenuous of the robberies; A Chennai-bound train from Salem with a bogie carrying currency notes belonging to Indian Overseas Bank was looted of Rs 5.75 crore by drilling a hole on the top of the bogie. This was realized only after the train reached Egmore and the Reserve Bank Officials checked the bogie. However, the notes stolen are in fact soiled and torn – the bank had collected all such soiled currency notes to the tune of Rs 342 crore and kept them in 228 boxes and sent them to Chennai by attaching an extra bogie to a goods train.
The RBI officials who had come to take charge of the notes found the boxes scattered around and on checking the documents found some of the notes missing (16 boxes were missing). Initial investigations reveal that the thieves used welding cutters to drill a hole. Even as every station along the route is being checked; the officials wonder if the robbery would have happened at Virudachalam station where the train stops for 45 minutes.