Senior Superintendent of Police (Kishtwar) Javaid Iqbal Mir said Rs 14 lakh of the looted money was recovered based on the disclosure of the arrested persons.
On February 3, a complaint was received from the branch manager of the Jammu and Kashmir Bank in Dachhan, reporting a robbery of Rs 19,51,600 (Rs 19.51 lakh) by unidentified individuals.
An FIR was registered at Dachhan police station and an investigation initiated, Mir said.
A special investigation team was constituted that cracked the case and arrested Mohd Yasin of Sounder and Bilal Ahmed of Lidhri, Dachhan, and recovered Rs 14 lakh, he said.
Further investigation is underway to recover the remaining amount, he added.
The accused burnt their clothes, shoes and bag containing the cash with the intention to destroy evidence, the officer said.
