Two men on a bike snatched a bag containing Rs 3 lakh from a 65-year-old man at AG Mor under Doranda police station in the heart of the city on Wednesday afternoon.

Tabrez had just withdrawn the money from the AG Office branch of the State Bank of India and was on his way home to Kantatoli when the snatchers struck.

Police sources said Tabrez and his 60-year-old brother were on their way back to their house on a scooter when the two-wheeler’s tyre got punctured.

“The brothers stopped in front of a repair shop near AG Mor. Tabrez was standing with the bag of cash when a bike zoomed past them. The man riding pillion, yanked the cloth bag from Tabrez’s hand and the bike sped away, leaving him no time to react,” a policeman told The Telegraph.

Confirming the incident, officer in-charge of Doranda police station Shailesh Kumar said an FIR had been registered in this connection and investigation was on.

“We have collected the CCTV camera footage. The bike rider was wearing a helmet, but the pillion rider wasn’t. We will nab the snatchers soon,” officer in-charge Kumar said.

On whether the snatchers were following their victim from the moment he stepped out of the bank, Kumar said: “Primary investigation suggests, they were not following the victims from the bank. In the CCTV camera footage collected from the bank, the men in bike do not appear anywhere near the branch,” Kumar added.