A pawnshop owner Shanmugham (75) was found dead, with his hands and legs tied and mouth gagged, in a room located on the first floor of a shop situated on Rajaji Road at Panruti on Wednesday.
The safety vault containing approximately two kg of gold jewellery was found ransacked, with empty jewellery boxes strewn all around the room.
Superintendent of Police Ashwin Kotnis, who visited the spot, said the actual quantity of jewellery stolen and their value was yet to be ascertained.
According to the victim's son, S. Sakthivel, his father generally used to close the shop and retire to the room where he had kept jewellery in safe custody. He would come down at the crack of dawn.
However, on Wednesday, he did not come down from the room.
When Mr. Sakthivel went to his room, he found the door locked from inside.
On noticing that the grill of one of the windows in the room was missing, he alerted the neighbours and police. When the police personnel entered the room, they found Shanmugham dead.
Forensic experts and a dog squad were pressed into service.
Mr. Kotnis said he has formed special teams under the supervision of Deputy Superintendent of Police Sekar to nab the culprits.
About 150 jewellery shops and pawnshops at Panruti downed shutters on Wednesday condemning the incident.
