The two employees, Arif Mohammed Abdullah and Karuppiah, were engaged to repair the machines through an agency and had allegedly earlier stolen Rs three lakh from the ATMs, they said.
They planned to steal Rs nine lakh on June 26 and hatched a plan to rob the amount when it was being dispatched to be loaded in an ATM by Adbullah and another person, police said.
Karuppiah and some of his accomplices allegedly followed Abdullah and the other man when they were proceeding towards ATM on a two-wheeler and snatched the money-bag from the man who was riding pillion, police said.