A gang of about half a dozen dacoits armed with swords allegedly looted Rs 7 lakh cash from the famous Vajreshwari temple in Bhiwandi taluka of the district early on Friday, police said.
The incident took place around 3 am, police said.
"The gang of dacoits wearing masks and armed with swords came to the temple and tied the hands and legs of the only security guard posted there. After entering the temple premises, they broke open the five cash boxes and decamped with the booty," Deputy Superintendent of Police of Ganeshpuri division, D M Godbole, said.
While five of the dacoits looted the cash, the sixth one stood guard outside the temple, he said.
The cash was donated by the devotees, mostly during the recently-concluded Navratri fair, he added.
After the dacoits left the place in their vehicles, the temple guard went to the temple trustees residing nearby and told them about the incident, Godbole said.
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After being alerted, Additional Superintendent of Police Sanjay Patil of Thane district rural rushed to the spot along with the team and checked the CCTV footage.
The CCTV footage showed five dacoits moving towards the temple and leaving it, police said.
The investigators are trying to identify the accused, and a dog squad was pressed into service.
Talking to reporters outside the temple, Patil said a search has been launched to nab the accused.
The temple, located in Vajreshwari town, which is around 75 kms away from Mumbai, is dedicated to goddess Vajreshwari.
Godbole said the gold and silver ornaments adorning the deity have been spared by the dacoits.
An offence under IPC section 394 (voluntarily causing hurt in committing robbery) was registered against the accused, senior inspector Parshuram Londhe said.
To protest against the incident, the residents of the town observed a spontaneous 'bandh' (shutdown) on Friday and the temple was also shut for visitors.