Ghaziabad, Aug 13 (IANS): Four armed men looted gold, cash and other articles worth over Rs.1.2 crore from employees of a Delhi-based gold trading firm late Friday night on National Highway 58 in Ghaziabad district of Uttar Pradesh.

Two employees, an armed guard and a car driver of a Delhi's Karol Bagh-based gold trading firm were returning to Delhi after selling gold and realising payment from Meerut traders when they were waylaid, the Muradnagar police said.

The employees of Messrs Hari Prasad Gopi Krishna of Karol Bagh, Anup Pande and Ajay Bansal, were close to Basantpur Sainthli village when four people in an Alto car forced them to stop at gunpoint.

The four smashed the rolled up windows of the car and made off with the gold and cash. They were seen headed towards Ghaziabad city.

The employees were returning after selling 2.4 kg of gold in Meerut market to jewellery shops. Around 4.6 kg remained unsold in their possession. "In addition, they had Rs.3.5 lakh in cash and cheques worth Rs.22 lakh," police said.

SP Rural Ajay Kumar Mishra said: "We are recording the statements of the employees and have found certain discrepancies in their statement. One employee joined the firm about eight months ago while the other rejoined the firm."