Three persons snatched the bag which had Rs 2.4 lakh from the man identified as Sarabjit Singh at around 1 PM, but one was nabbed.
Singh, an employee of Indo-Canadian Bus Service was standing at the bus shelter opposite to Radisson Hotel, when the incident took place.
While Mohammad Javed of Bawana was caught, two others managed to flee along with Rs 1.92 lakh.