According to police, the alleged theft had taken place on Tuesday evening.
A group of five men, including two policemen, on the pretext of asking the address of a glass factory, had allegedly requested the guard to open the gates.
They came inside the sandalwood godown belonging to one Mohammed Akhlak and allegedly gagged the guard, Meena Ram, and assaulted him, police said.
However, he managed to escape and alerted the owner. But by the time, the owner reached, the gang members had allegedly made away with the sandalwood stored in the godown and decamped with 1,135 kgs of red sanders.