Four armed men snatched Rs 50 lakh from the employees of a cash replenishing van outside an ATM booth at Phagwara on Friday.
Cash van employees Deepak and Dharamvir had arrived in the van at Hargobind Nagar here, along with a security guard and a driver, to refill the ATM of the State Bank of India.
Around 2.30 pm, having put Rs 5 lakh in the machine, when the two came out of the ATM booth carrying a bag containing Rs 50 lakh, the armed men, who came in a Maruti Swift car, intercepted the two.
Deepak said they pointed a gun at him, snatched the bag and fled the spot.
The guard and the driver were in the van parked at some distance from the booth.
Eyewitnesses claimed that the armed men were waiting outside the ATM booth. “The nearby shopkeepers chased them for some distance, but they managed to escape,” an eyewitness said.
Kapurthala SSP Dhanpreet Kaur and Phagwara SP Gursewak Singh Brar visited the spot.
Brar said it was a lapse on the part of the security agency, Securitrans India, as they did not follow the norms. The employees should have kept the surplus cash in the van instead of carrying it to the booth, he said, adding that the security guard, who was relaxing in the van, had failed to react as the men snatched the bag.
The police suspect foul play and have not ruled out the involvement of an insider.
On December 12 last year, four men had looted jewellery worth Rs 25 lakh from a shop in the same locality.