Six armed robbers, posing as Crime Branch sleuths, struck at a courier company's office in Itwari area and looted Rs 38.57 lakh cash, police said today.
The incident occurred last evening at the office of the firm, located behind the Anaj Bazaar police post, they said.
No police personnel were present in the post when the incident happened.
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Even before the employees could react, the robber whipped out a pistol and pointed it at the head of firm's manager Kaplesh Patel, before letting his accomplices in.
"The robbers then pushed all employees -- total five of them -- into an adjacent room where they handcuffed and gagged them," police said.
Police said the cash stolen belonged to owner of the firm, Umesh Shah who is based in Ahmedabad. "The money was meant to buy a plot of land," police said quoting Patel.
The incident was reported to Lakadganj police by Patel who somehow managed to free himself.
Police said they were also investigating if any insider was involved in the incident and tipped off about cash dealings of the company.
"Dacoits were unaware that some of the drama was captured on closed circuit television cameras before one of the dacoits removed them. While they removed cameras inside the office they failed to notice the ones installed outside," police said.