Two unidentified bike-borne men snatched away a bag containing 4.5 kg of gold jewellery, valued at about Rs 50 lakh, from a jeweller's shop at Tagarapuvalasa Junction under Bheemili police station limits in the city today.
Local people tried to chase the thieves, but they escaped.
DCP (crime) T Ravi Kumar Murthy, who visited the spot, said that the jewellery shop had a CCTV, but it was shut after closing hours, and the incident happened minutes after the victim Uppala Ratna Srikanth opened the shop this morning.
According to police, Srikanth, who runs Sai Padma Jewellers at Tagarapuvalasa, took all the jewellery in the shop home at night and brought it back in the morning.
This morning, about 9.30, he opened the shop and placed the bag containing jewellery on the counter when two men, riding a blue-colour Splendor, arrived and fled with the bag.
