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The suspect identified as Karvarnan from Thiruttu village in Ramjinagar, Tamil Nadu is believed to be the mastermind behind the robbery.
The incident occurred in Uppala in March this year. A three-member gang allegedly damaged a Secure Value company vehicle carrying Rs 50 lakh meant for refilling an ATM and made off with the cash.
Police arrested one of the suspects, Muthu Kumar (47), in connection with this case. The other two accused went into hiding upon hearing the news of his arrest.
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