The incident occurred when Pradeep Mehta was stepping out of a bank after withdrawing money for making payment to farmers from whom he had purchased their produce, said Additional SP Gopal Khandel.
"As soon as Mehta came out of the bank and about to sit in his car, one of the robbers snatched his bag and escaped with his associate waiting on a motorcycle," Khandel said.
Police are monitoring CCTV footage to identify the robbers who are on run, he said.