The incident took place at around 10 AM when Dinesh Gupta, who owns Gupta Book store on the Arya Samaj Road, was about to go to a bank to deposit the cash, they said.
"A man snatched my bag possessing Rs 4.50 lakh whenI was about to go to the bank on my motorcycle," Gupta, in his complaint, told the police.
Police said, following the incident, they tried to nab the culprit from a shopping centre but he managed to dodge them and fled the place.
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