Mumbai: Police in Maharashtra’s Nashik district have arrested six people in connection with the alleged kidnapping and assault of a businessman, Sandeep Patil, over claims of a container loaded with Rs 2,000 notes worth Rs 400 crore.

A Special Investigation Team has been formed to investigate the case, including the authenticity of the claim that such a huge sum in cash existed, officials said on Saturday. The Rs 2,000 currency note was withdrawn from circulation in May 2023, though it remains legal tender.

How was the crime carried out?

According to the complaint, 35-year-old Patil was allegedly approached by Sayyad Azhar, Virat Gandhi, and Machhindra Madavi, who claimed to possess a container filled with Rs 2,000 notes worth Rs 400 crore. They asked Patil to lend them money to provide security for the transaction, promising high returns. After receiving the funds, the group alleged that Patil had stolen the cash.

Patil reportedly received a call on 20 October from one Jayesh Kadam, who threatened him with dire consequences if he did not meet his Gujarat-based employer, Virat Gandhi. He ignored the call but received another on 22 October, asking him to meet near Ghoti, roughly 40 km from Nashik.

When Patil arrived, he was forced into an SUV and assaulted by three to four men. The assailants claimed that two container trucks carrying old currency notes had been stolen on the night of 16 October in Karnataka’s Chorla Ghat. They also alleged that someone impersonating Patil had been calling their employer and demanding Rs 100 crore to return the stolen cash. Patil denied any knowledge of the notes and was pushed out of the vehicle.

Later that evening, the group called Patil again in the Nashik Road area, made a video call to their employer, and showed Patil’s face. They then told him he was not the person their boss had been receiving calls from. Despite this, Kadam allegedly continued calling and threatening Patil, warning that he would be killed if he informed the police about the alleged currency.

Patil was later released and lodged a complaint with the Nashik Rural police on 9 January 2026.

Details of the investigation

An FIR was registered under sections 115(2) (voluntarily causing hurt), 140(3) (kidnapping for wrongful confinement), 351(2) (criminal intimidation), and 352 (intentional insult to provoke breach of peace). Six people, including Azhar, Gandhi, and Madavi, have been arrested so far, and investigations are ongoing.