Police have arrested three persons for allegedly stealing Rs 12.20 crore from a private bank in Maharashtra’s Thane district, an official said on Tuesday.

The theft took place on July 9 at the bank’s branch in Manpada area of Dombivli town here.

Based on a tip-off, sleuths of the Thane crime branch’s property cell laid a trap and nabbed three of the accused from Mumbra area here on Monday, senior police inspector Anil Honrao said in a release.

The police recovered from them Rs 5.80 crore out of the stolen cash and property worth Rs 10 lakh, he said. Efforts were on to recover the remaining amount from them.

The police were also searching for the main accused and others involved in the crime, including an employee of the bank, the official said.

Those arrested have been identified as Israr Abrar Hussain Qureshi (33), Shamshad Ahmed Riaz Ahmed Khan (33) and Anuj Premshankar Giri (30).

The Manpada police have registered a case against the accused under Indian Penal Code Sections 381 (theft) and 34 (acts done by several persons in furtherance of common intention), the official said.