The incident took place near the Paldi branch of HDFC bank around 3 pm. The Ellisbridge police are on the lookout for the accused.

According to the police, the victim, Haider Sayed, had come to the bank to withdraw money from his employer’s bank account. When Sayed was heading towards his scooter parked near the bank building, an unidentified youth pounced on him and allegedly fled with the cash, along with his two accomplices, who were reportedly waiting for him on a motorcycle.

Ellisbridge police Inspector J B Gadhvi said, “Although Sayed tried to chase the trio on his scooter, the latter managed to give him the slip.”

The police have registered a complaint and are investigating the matter.