Four men were arrested after an encounter with police for robbing over Rs 1 crore from a bullion trader’s relative, police said Saturday.
The encounter took place early Saturday in Dev nagar area that falls under Kotwali police station, they said. The arrested accused were identified as Arvind, Naresh, Arun and Vinay, they added.
Seven others involved in the case were arrested on August 26 and about Rs 45 lakh was recovered from their possession. Arvind had a reward of Rs 1 lakh for information leading to his arrest.
On August 16, the 11 accused robbed Ankit Bansal of Rs 1.05 crore in Chauki Bag Bahadur area, when the victim was going to deposit the amount belonging to his relative, Mukul Bansal, a bullion trader, at State Bank of India.
They were distributing the amount among themselves when police went to arrest them Saturday, officials said.
Over Rs 44 lakh, three country-made 315 bore pistols, 11 live cartridges were recovered from their possession besides 9 blank cartridges from them.
Naresh, had a reward of Rs 10,000 on information leading to his arrest. Arvind, who was injured in his foot during the encounter, has been hospitalised.