The police arrested five people within 24 hours of the incident. (Representational image)
Two persons allegedly robbed a businessman of Rs 20 lakh cash and some electronic items while he was returning after collecting money from retailers in Madhya Pradesh's Jabalpur city, police said on Sunday.
The police arrested five people within 24 hours of the incident, which took on Friday, he said.
After the arrest, the accused told the police that they committed the offence to repay their loans, buy drugs and to make quick money, Additional Director General of Police (Jabalpur Zone) Umesh Joga said.
The victim, Rajkumar Tiwari, who is into mobile accessories trade, was going on a motorbike after collecting money from retailers when two scooter-borne persons allegedly snatched his bag containing Rs 20 lakh cash and other items, the official said.
The businessman chased the duo for some distance, but could not catch them.
Based on the victim's complaint, the police launched a probe. Within 24 hours of the incident, the police arrested five people and recovered Rs 20 lakh cash, two motorbikes and four mobile phones from them, he said.
The accused were identified as Kamlesh Jharia alias Kammu (20), Anshul Choudhary (31), Sumit Ben (21), Shivam Chansoria (22) and Gaurav Chourasia (22).
Jharia and Choudhary were arrested after being identified on the basis of CCTV footage of various locations in the city, the official said.
Both of them are habitual offenders, and cases were registered against them at various police stations on charges of attempt to murder, assault and possessing drugs, he said.
During questioning, the duo revealed the names of the other persons involved in the crime following which the three others were arrested, he added.