One of the alleged robbers Jaspal was apprehended from the spot by the neighbours who chased the gang.
The incident was reported from Ambedkar Nagar this afternoon when Rani, the businessman's wife, was alone in her house.
The gang came to her house posing as discom employees and told her that they were assigned to check the power meter installed at her residence.
When she told them to come later as she was alone, they forced their way into the house and held her hostage at gunpoint.
Rani managed to raise an alarm and neighbours gathered at the spot. The four men tried flee brandishing their firearms but locals managed to catch Jaspal who was assaulted.