About 16 cash vans of the company were parked inside the premises when the robbery took place. (file)
Armed robbers decamped with around Rs 7 crore from the office of a cash management services company in the New Rajguru Nagar locality here early Saturday, police said.
Around 1:30 am, at least 10 robbers broke into the office of CMS Securities after overpowering four security guards and then escaped with the cash in a van of the company, they said.
Police said the robbers decamped with around Rs 7 crore cash. The company is still ascertaining the exact amount, they said, adding that a search has been launched to nab the robbers.
Ludhiana Police Commissioner Mandeep Singh Sidhu told reporters here that the incident took place around 1:30 am.
The cash van, used by the robbers to escape, has been found near Mullanpur Dakha, he said, and added two weapons were also found in the vehicle.
Highlighting the negligence of the company, Mr Sidhu said the cash was not kept in the currency chest but outside. Mr Sidhu said the robbers also took away the DVR (digital video recorder of the CCTV cameras). About 16 cash vans of the company were parked inside the premises when the robbery took place, police said.
In reply to a question, Mr Sidhu said two of the five security guards had weapons, but they did not react when the robbery was taking place.
Several wings like the anti-gangster task force and counter-intelligence are working on cracking the robbery case, he said.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)