Nitin Shukla (27), a collection agent employed with a private security agency, was on his way to office on his motorcycle after collecting cash from several outlets when the robbery took place, police said.
"At 1:30 PM, when Shukla reached near Gazipur flyover close to Highway apartment, two bike-borne assailants intercepted him and asked him to handover the bag.
"When Shukla resisted, one of the accused pulled out a pistol and threatened to shoot him. One of them, then punched him, snatched the bag and the duo fled the spot," a police officer said.
The role of an insider is suspected as the assailants were aware that he was carrying so much cash, the officer said, adding that Shukla and his colleagues were questioned.
Shukla, a resident of Maujpur village in northeast Delhi, has been employed with the agency for the past few months.