One Aaditya Sawant, working with a currency exchange company was yesterday carrying cash from here to suburban Mulund.
He was near a ATM booth when two unidentified persons, posing as income tax officials, enquired about the cash, PSI DB Sampark of Thane Nagar police station said.
They kidnapped him and took him to Gaimukh area on the outskirts where the cash was looted, he said.
The youth was later left alone in an auto rickshaw at Ghodbandar road, the officer said.