The police received a call around 3.15 pm that three unidentified men had robbed Mohammad Arif, 49, of Rs 2 million outside Vijaya Bank in the IP Extension area.
"Arif runs a meat supplying company. He had come out of the bank after withdrawing money and waved to his driver Mohammed Akram to bring the car parked across the road," a senior police officer added.
"As he was about to get into the car, three men came and put a gun to his head. They snatched the bag containing the cash and fled the scene. The victim told us that the robbers were on foot and after taking the money they snatched a motorcycle from a man at gun-point to escape," the police officer added.
Arif then informed the police about the incident.