The police arrested seven persons on Monday for allegedly stealing Rs 29.70 lakh from an ATM of a nationalised bank in Bhiwandi, Thane district.
Among the accused were employees of a private company that had the contract of refilling cash in the bank's ATMs.
The theft took place on the intervening night of March 11 and 12 at an ATM at Anjur Phata, said SD Jadhav, senior inspector of Narpoli police station.
During their probe, the police suspected the involvement of someone who knew the password of the ATM's cash box. After questioning employees of the private company who had refilled the ATM, they arrested Vikas Yede, Suresh Kokitkar, Vinod Varade, Nilesh Gotipamul, Mohan Zanze, Rajesh Phulpagare and Irfan Khayum Khan, said Jadhav said.
The investigation revealed that the accused had deposited Rs 36 lakh in the ATM on March 11. Late in the night, they returned and stole the money.