Four armed men on two motorcycles allegedly robbed Rs 70 lakh from a person in north Delhi's Gulabi Bagh area on Thursday afternoon, police said here.
A senior police officer said the money was in a bag with a man, identified as Rajesh, who was on his scooter when he was allegedly robbed.
The money belongs to Deepak Jain, who runs a committee in Chandni Chowk, the police said. A case under relevant sections has been registered at the Gulabi Bagh police station.
Police are checking CCTV footage of the area to nab the accused, the officer said.