Some unidentified miscreants allegedly stole Rs.4 lakh kept in the utility box of a motorcycle belonging to a rice mill owner at Tagarapuvalasa under Bheemunipatnam police station limits on Monday.
According to reports, Ch. Prasad of Peddipalem village on the outskirts the city withdrew Rs.4 lakh from his account in a State Bank of India, Tagarapuvalasa branch, on Monday morning.
Mr Prasad put the money in the utility box and went to a fabrication workshop on his bike and went into the workshop to meet someone, after parking his vehicle outside.
On return, Mr Prasad found the utility box open and the money missing, and lodged a complaint with the police. Bheemunipatnam Inspector S. Appla Naidu said that the utility box was intact.
He expressed the view that Prasad might have forgotten the cash somewhere after withdrawing it.
A case was registered and investigation is on.