Five armed men allegedly looted gold worth Rs 4 crore from a gold loan company in Vidhyadhar Nagar area here today, police said.
The robbers stormed into the office of IIFL gold loan company on the first floor of a building, beat the staffers and held them hostage at gunpoint, DCP Mahendra Singh said.
They then snatched the keys of the strong room and decamped with gold worth around Rs 4 crore, Singh said.
The gold belonged to those who had taken loan from the company against them.
The robbers came in a car and sped away after the incident, Singh said, adding that barricading has been done at checkpoints soon after the incident.
"Efforts are on to identify the accused," he added.
