Two motor-cycle borne criminals attacked businessman V Manoj with iron rods while he was going to a bank on a motorcycle to deposit the cash, the police said.
As he fell from the bike, the miscreants took way the bag containing the cash and fled the spot, they said.
Manoj, who was injured in the attack, was admitted to the sub-divisional hospital at Chhatrapur where his condition is stated to be out of danger, they said.
"We have intensified patrolling in the area to nab the criminals. Other police stations have also been informed about the loot," Inspector In-Charge of Chhatrapur police station, Bishnu Prasad Patra, said.
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