Cuttack: Unidentified miscreant looted Rs 5.15 lakh from a businessman in Malgodown area in Cuttack late on Thursday night, police said today.
The victim, identified as Ajit Panigrahy, owns a business in Malgodown area.
According to sources, Panigrahy was returning to his house yesterday night when a bike-borne person waylaid him and snatched away the cash bag containing Rs 5.5 lakh from his possession. The desperado then sped away.
Following the incident, Panigrahy lodged a complaint with Malgodown Police. A manhunt to nab the culprit has been launched, sources in the police said.