The incident dates back to April 26 this year when Shashikant Gawane, manager of Uday Theatre, was going to deposit a sum of Rs 52,940 with his employer who resides in the neighbourhood. Four men stalked him and grabbed the bag containing the cash at knife point before decamping with the loot in an autorickshaw, said Assistant Police Inspector Prabhakar Loke.

The quartet have been identified as Ahmed Mustafa alias Ahmed Ansari, Immanuddin Khan, Iqbal Mohammed Changali and Arshad Sheikh.They have been remanded to police custody till September 7.