The robbery, one of the biggest in the national capital in terms of money involved, was carried out in a matter of minutes.
Police said around five to six armed men intercepted a Honda City car near Lajpat Nagar Metro station around 9 AM and fled with the vehicle and Rs 7.69 crore cash.
The incident took place at 9:00 AM, when Rakesh Kumar, manager of a Gurgaon-based businessman-cum-financer Rahul Ahuja, was going to Karol Bagh along with three employees, identified as driver Subodh, Rajesh and Baijnath.
There was some initial confusion on who were the occupants with the police stating that Kalra was in the Honda City.
Their car was being tailed by company's three other employees identified as Sandi, his brother Bandi and gunman, Brijesh in an I-20 car. However, this car was held up at a traffic signal.
When the Honda City reached near Lajpat Nagar Metro Station, a silver Wagon R, bearing UP registration number, overtook them and suddenly stopped right in front of it causing a collision.
Around three to four persons alighted from the car and trained their guns at Kumar and his associates, police said.
The robbers then fled from the scene in the Honda City which had Rs 7.69 crore cash in two bags while the Hyundai Verna followed it. The robbers left their silver Wagon R at the spot, which later turned out to be a stolen vehicle.
Kumar made a call from his mobile phone to the police around 9.38 AM saying five to six people stole a brown colour Honda City car and fled towards upmarket Moolchand in south Delhi.
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