The incident took place yesterday when Chandra Prakash Tibdewal (45) was on his way to some place when the miscreants shot at him and looted Rs 10 lakh kept in his scooter, they said.
The victim was rushed to the hospital in a serious condition, where he died during treatment, police said.
Meanwhile, local traders today gave a 'band' call against the incident and sought audience with Chief Minister Yogi Adityanath here.
The police added that a case has been registered in the incident.
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