According to an FIR, the victim Vinod Kumar Saini was shutting his shop in Ashok Vihar colony last evening and heading home when the four accused snatched his bag, containing gold and silver ornaments worth Rs 5 lakhs, at gun point and decamped with two motorbikes.
The accused also assaulted Saini when he resisted their robbery bid, police said, adding two teams have been formed to nab the culprits.
A complaint was registered by Saini after which police lodged an FIR and a manhunt has been launched to nab the accused.
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