The police acting on a tip-off surrounded a house in Vandikaran Street in Velachery at 1 am and asked the suspects to surrender themselves, said a police officer. The suspects, however, did not yield to the warnings and open fired injuring two inspectors. [Read More: Chennai: Bank robbery suspect was an SRM engineering pass out].
According to authorities, the same gang was involved in robbing other banks across the city. [UPDATE: 5 killed, it was Murder not Encounter?]
Police are also looking into the matter if the robbers were responsible for looting a branch of the Indian Overseas Bank on gunpoint.
On Feb 20, Rs 14 lakh was looted by four armed men from a branch of Indian Overseas Bank at Keelkattalai.
On Jan 23, the Bank of Baroda branch near Perungudi was stripped off of Rs 19 lakh by four armed men.