COIMBATORE: In a brazen daylight robbery, a four-member gang allegedly snatched a bag containing Rs 1 crore from a Hyderabad-based businessman minutes after he got off a luxury bus at Lakshmi Mills junction on Avinashi Road in Coimbatore on Friday (September 4) morning.

One suspect has since been detained near Ulundurpet.

Police are probing whether the cash was hawala money and suspect that the gang may have known the 65-year-old businessman, Thamun, was travelling to Coimbatore with the money.

They are also investigating whether the gang had followed him from Hyderabad before carrying out the robbery.

Thamun frequently visits Coimbatore for business and boarded a luxury bus in Hyderabad on Thursday (September 3) night with cash in a bag. When he got off and walked a short distance on Friday morning, a car approached him from behind.

Four men got out, allegedly snatched the bag with the cash and fled in the same vehicle. The robbery was carried out within five minutes of Thamun getting off the bus, leaving him shocked.

Thamun lodged a complaint with the Race Course police about two hours after the robbery.

Police officials reached the spot and examined CCTV footage from the area, which reportedly captured the gang getting out of the car, snatching the bag and fleeing.

Four special teams have been formed on the orders of city police commissioner Kannan to trace the suspects.

Based on information that the gang was fleeing in a car near Ulundurpet, the teams, with the help of local police, intercepted the vehicle.

Police said one person was inside and detained him for questioning.

The other three suspects remain at large. Police are questioning the detained person to establish the identities of the others, their place of origin and the whereabouts of the stolen cash.

The Race Course police have registered a case and are continuing their investigation.