The victim, Murugesan (52), of New Perungalathur, visited a private bank on Gandhi Road in Perungalathur for a loan on Tuesday morning. He pledged 38 grams of gold in the bank and received Rs 1.10 lakh for it. He kept the cash and 4 grams of gold in a bag and placed it in the rear seat of the car.
On his way back, a four-member gang on two motorbikes intercepted Murugesan and said currency notes were flying off the vehicle. Upon checking, Murugeesan found a few Rs 100 and Rs 50 notes on the road. Thinking the money fell from his bag, he alighted thevehicle in a hurry and started to collect them.
Taking this opportunity, the gang snatched the cash bag from the car and escaped. On information, the Peerkankaranai police registered a case and are trying to identify the culprits with the help of CCTV footage.