A Mumbai-based diamond merchant was relieved of a 11-carrot diamond worth about Rs 2.75 lakh by two men under the pretext of "examining" it here today, police said.
Nazeer and his friend Arumugam took to their heels with the diamond, much to the shock of the merchant, who raised an alarm seeking help to catch them.
Two policemen, who were on patrol duty, chased the duo and nabbed Arumugam, while Nazeer made good his escape with the diamond.
The incident happened when Nazeer, a broker dealing with precious stones, and his friend Arumugam, had gone to meet diamond merchant Rajesh Waswani of Mumbai to examine the diamond and suggest a suitable buyer for it.
A hunt is on for Nazeer, police said.
