On a tip-off, a police team apprehended accused Raj Singh and impounded the motorcycle used in committing the crime.
Rupesh Jha, who works as a cashier with Atul Jalan Portfolio Pvt Ltd, was travelling on his bike carrying a bag containing Rs 28 lakh cash when three motorcycle borne miscreants robbed him of his vehicle and the cash.
One of the three men was caught by the police with the help of the public while the remaining two, Raj Singh and Atul, managed to escape with the cash.
A case was registered at Maurice Nagar police station.
During interrogation, Raj disclosed that after committing robbery, he along with Atul escaped to Shimla and stayed there for three days. Thereafter, they came back and went to Loni, Ghaziabad where friends of co-accused Atul reside.
Further investigation is on and efforts are being made to nab Atul, they said.