A dramatic road robbery attempt in Shankarpally, Rangareddy district, has caused panic after miscreants tried to loot ₹40 lakh in cash being transported by a steel trader’s associates.
Hyderabad-based steel trader Rakesh Agarwal had instructed his driver and business partner to bring ₹40 lakh in cash from Vikarabad. As they reached Parveda, Shankarpally mandal, a Swift car rammed their vehicle from behind.
Immediately, the assailants sprayed chili powder and threatened the victims with a fake pistol, attempting to escape with the money.
While fleeing, the gang’s car overturned near Kothapalli village. Panicked, the accused abandoned part of the cash and tried to escape on foot. Local residents, who grew suspicious, questioned them. Fearing being caught, the gang fled, leaving the stolen cash behind.
The Shankarpally police rushed to the spot and seized ₹8 lakh in cash from the car. Investigators found that both the pistol and number plate were dummy.
A case has been registered, and police are probing how the robbers got information about the cash movement.
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