Inderjeet Sareen and son Amit were returning home in Noida's Sector 93 from Delhi when a gang of four waylaid their car near Spice Mall in Sector 8.
Holding Sareens at gunpoint, they threw out the driver and drove to ATM kiosk in Sector 51.
There, Amit's debit card yielded 700 from ATM. Furious over this, they shot him in his leg.
Next, they made a ransom call to Sareen's wife, asking her to wait outside their home with her jewellery.
They then drove all the way from Sector-8 to Sareen's residence in Sector-93, took the jewellery, which the victims say was worth about Rs 6 lakh, and headed for the expressway.
It was here that police finally zeroed in on the car, which they had been trying to track down for several hours after a tip-off from Sareen's driver.
Police surrounded the car near Jewar toll plaza and rescued the Sareen and his son but the robbers managed to give them the slip and flee.
A bleeding Amit was rushed to Apollo Hospital in Delhi.