Rs 16 lakh of the looted cash and a motorcycle used in the crime were seized, they said.
SSP Anant Dev told reporters that on July 29 armed men had looted Rs 22 lakh from Shubham Garg at gunpoint in Budhana town here.
The accused, Deepak Saini and Ashish, Yogesh and Abhishek, were arrested last evening, he said.
Three more accused are absconding.
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