Four armed robbers looted Rs 2.25 crore cash lying inside a car belonging to a cold storage owner in Navi Mumbai on Saturday, police said.
The robbery took place hardly 200 metres away from Turbhe police station and the police is still hunting for clues.
Mohammed Arif Qureshi, the businessman, had withdrawn Rs 2.25 crore cash from Union Bank of India's Turbhe branch and was going in his Honda City car to his cold storage in Nerul.
The robbers who were observing Qureshi's activity, came in a Tavera vehicle, overtook him, smashed his windowpane, threw chilly powder in his face and decamped with the briefcase containing the cash, police said.
Ashok Dudhe, DCP, Navi Mumbai, said police is on the lookout for the robbers.