The police arrested four persons for attacking a collection agent and robbing him of Rs. 25 lakh in Anna Nagar on Monday.
Rs. 17.76 lakh was recovered and a search is on for three others involved in the crime.
The robbery took place around 1.30 p.m. on Monday when Kamalakannan (28) was carrying Rs. 25 lakh, collected from different business establishments in Nolambur and Mugappair, to be deposited in banks.
An armed gang intercepted him, hacked him with knives and fled with the money bag. Kamalakannan managed to note down the registration number of one of the motorcycles used by the gang.
A police team led by deputy commissioner of police (Anna Nagar) Prem Anand Sinha found the vehicle belonged to Ramachandran (22) of Erikkarai in Maduravoyal. He was traced and with his help, the police located Vinod (33) of Choolaimedu, Kishore (22) of Maduravoyal and Gopi (22) of Manali.
Vinod knew Kamalakannan as the two had earlier worked at a finance firm.
Three months ago, when the two met up at a wedding, Kamalakannan spoke of his job and revealed that he often dealt with large amounts of cash. Following this, Vinod, a college dropout, hatched a plan to rob him, along with Ramachandran, said Mr. Sinha.
The four men were remanded in custody and sent to Puzhal prison on Tuesday.