Unidentified, armed criminals stormed into a branch of the Manappuram Finance Company here on Thursday and fled with 15 kg of gold bars, biscuits, and coins after threatening the employees there, police said.
The gold is estimated to be worth Rs 5 crore.
Senior police officials, including Inspector General of Police Ram Kumar visited the crime scene and took first-hand account from the staff.
According to police, the motorcycle-borne criminals came to the Begumpul branch of the firm, which gives loans on gold, at around 7 p.m. and threatened manager Sachin Tomar at gunpoint and also hit him on the head with a pistol butt. They also tied up two women staffers before fleeing with the gold.
Police are trying to locate the criminals as the bag in which they took away the loot has a tracker, a police official told IANS.