The Kasturba Marg police have arrested a 25-year-old man for allegedly snatching a bag containing Rs 2.5 lakh in cash from a 77-year-old retired businessman in Borivali East.

According to the police, the incident occurred on January 5, between 5 pm and 5:10 pm near the Omkareshwar Temple, close to the Western Express Highway in Borivali East. The complainant, Riddhesh Shah (77), a resident of Shantivan, Dahisar East, had collected Rs 2.5 lakh in cash from a money transfer office at Hari Om Plaza. The amount was sent by his daughter from Surat for his wife’s medical treatment.