Police are on the lookout for two motorcycle-borne men, who snatched a bag containing Rs 5.7 lakh in cash from a factory owner near Miller Gunj, on September 14.
Police said the victim, Vishal Jain, 45, of Parkash Nagar, Jawaddi, filed a complaint on Saturday, following which they initiated investigation.
Jain told the police that he owned a nut and bolt manufacturing factory. On September 14, he withdrew Rs 5.7 lakh from his bank to make some payments. He was standing on the roadside, waiting for someone, when two men approached him on a motorcycle and in no time, fled after snatching his bag.
The victim said he himself tried to locate the snatchers, but informed the police after failing to do so.
ASI Balvir Singh, who is investigating the case, said that an FIR under Sections 379-B (snatching) and 34 (acts done in furtherance of common intention) of the Indian Penal Code had been lodged against the unidentified accused at the Division Number 6 police station. Police are scanning CCTV cameras installed in the area to identify them.