According to officials, the two persons, Sanjay and Premchand, were returning from Ghazipur after collecting money from a bank yesterday when they were waylaid by three motorcycle-borne armed men.
The men threatened the duo at gunpoint and decamped with Rs 5 lakh in cash, a mobile phone and a wrist watch.
The victims later lodged a complaint and police are probing into the incident, officials said.
