Businessman looted of Rs 1.29 cr in cash

Mumbai, Apr 12 (UNI) Five unidentified men robbed a businessman of Rs 1.29 crore in cash at Chembur here this afternoon.

Mr Naren Jain, who owns ''Sahil Gems'' at Opera House in South Mumbai, had withdrawn Rs two crore in cash from a bank in Chembur at around 1400 hours, police said.

The cash was stashed in ten satchels, police said. Mr Jain, after putting away the satchels in the luggage compartment of his car, was on way to his office.

However, only a few hundred metres from the bank, his car was intercepted by the five persons who damaged his car and held him at gun point.

They forced Mr Jain to open the luggage compartment of his car and decamped with six of the ten satchels. The six satchels contained Rs 1.29 crore in cash, police said.

UNI XR-ST MAZ MSJ BST2250