The accused identified as Mohammed Qaseem, about 24 years of age, was thrashed by angry people around, police said adding the cash was recovered from him while a country-made pistol from which he opened fire was also seized.
According to police, five armed robbers barged into the firm of Patel Rameshkumar Kantilal 'angadia', which provides banking-cum-courier service and delivers gold and diamonds to his clients at Popatwadi area at Bhuleshwar in south Mumbai.
The five threatened the staff and looted Rs three lakh when one of the employees raised an alarm, police said adding people from other offices gathered and tried to catch them.
While running away, Qaseem fired a bullet to scare the people but in vain, police said adding he was thrashed by the public but his accomplices managed to escape.
The accused were caught on CCTV footages and "preliminary investigation suggests that the accused hail from Uttar Pradesh," according to police. PTI VM ABC PAL