Assistant Superintendent of Police Anoop Kumar said Ravinder Chauhan was going to deposit Rs 12.76 lakh to a bank in his car when he was accosted by two men on a motorcycle.
One of them broke the window of Chauhan's car while the other brandished a fire arm and fired in the air as he snatched the bag containing the money. The assailants then fled from the spot, Kumar said.
Police also checked the CCTV cameras in the area but found all of them were out of order.
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