PUNE: Four armed robbers held a cotton trader, his relatives and domestic help hostage at gunpoint for more than three hours in his bungalow in an isolated by-lane off Apte Road in Deccan Gymkhana area and robbed cash and valuables worth Rs 5.70 lakh.

The 63-year-old trader has lodged an FIR in this regard with Deccan Gymkhana police station, Pune city police. He operates from Mumbai.

According to the police, the incident took place between 9.30 am and 1.30 pm on Wednesday. “Me, my brother-in-law, driver and maid servant were in the bungalow, when the four accused aged 25 to 30 years barged in and threatened us with pistol and knives. They looted ornaments, cash, mobile phone, watch, totally worth Rs 5.7 lakh. They abducted our driver in my car and took him to Mumbai and demanded Rs one crore extortion money. However, later they fled after leaving the driver near a bridge in Kurla,” the complainant stated in his FIR.

The police have booked the four unidentified persons for robbery, abduction and other relevant charges under the Indian Penal Code. The police are further investigating the case.