Unidentified men barged into a jewellery shop in Malviya Nagar today and decamped with valuables worth lakhs, the police said today.
According to Vaibhav Jain, the shop owner, four or five men entered the shop around 11 AM.
Two of them were carrying country made pistols and the others had meat-chopping knives, he said.
"They threatened us and abused us and decamped with jewellery items they could lay their hands on," he added.
The accused were wearing helmets so they have not been identified yet, the police said.
Jain said the loss must be close to Rs 70 lakh.
Police said they are looking at CCTV footage from the area to identify the accused and are questioning employees of the shop.