Mumbai, Sep 4 (PTI) Seven persons were arrested for allegedly robbing a foreign exchange trader of Rs 75 lakh late last month, a Mumbai police official said on Monday.

On August 28, three motorcycle-borne men had robbed two bags, containing Rs 50 lakh and Rs 25 lakh, from two employees of Dhaval Panchal, who operates his foreign exchange business in Malad, the official said.

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"The two employees were carrying to bags to the house of Panchal's business partner Bhavik Patel. The robbery, in which the accused brandished a knife, took place close to Patel's home in Marve Road area," he said.

"After a police case was registered, a probe zeroed in on Prateek Bhojane (30), one of the two employees who was robbed that day. It was found that he had hatched the plan and had got some persons with criminal backgrounds to carry out the robbery," the official.

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Apart from Bhojane, police managed to arrest six others identified as Akshay Gaikwad, Kunal Gaikwad, Naresh Rathod, Chhagan Gaikwad, Dinesh Indre and Vinod Anchalkhamb, he said.

"Indre helped Bhojane with the planning. All seven were held from Mumbai, Lonavala, Pune, Nashik, Raigad and Jalna. More arrests are likely based on their interrogation. Of the looted money, Rs 15 lakh has been recovered and efforts are on to trace the rest," the Malad police station official said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)