According to the police, the incident took place around 9:30 pm yesterday, when the victim, identified as Raunak Singh, a resident of Niram Vihar area, was returning home from his showroom in Krishna Nagar.
He was accompanied by one of his employees, Ram Charan, on a scooter when three men on a bike intercepted their way, pulled out a gun and asked Singh to give the bag containing cash and jewellery.
Soon after the incident, Singh made a PCR call and informed the police. Cops have registered an FIR under IPC section 392 (robbery) and 34 (common intention) at Krishna Nagar police station and have started the investigation.