The stolen gold is worth Rs 12 crore.

The dacoity was reported at India Infoline Finance Limited (IIFL) on the Gill Road around 11am. The crime was recorded on CCTVs, police said.

The crime spot located just opposite to a Crime Investigation Agency's office.

The IIFL staff raised an alarm when the robbers fled, Police Commissioner Rakesh Aggarwal told the media.

At the time of the incident, five employees were present in the office and no customer was there.

This is the second major robbery in Ludhiana in the past 20 days. On January 29, four armed assailants looted two kg gold jewellery from V.K. Jewellers.