Three unidentified men waylaid Lakshmaiah, 41, and fled on his two-wheeler with his cash bag. Lakshmaiah, a resident of KHB Colony in Basaveshwarnagar, worked as a writer at a shop owned by coconut wholesale trader Satish Kumar at the APMC Yard.

Originally from Andhra Pradesh, Lakshmaiah had settled in Bangalore seven years ago. He was married to Rekha and had two daughters aged eight and five. He had joined Kumar’s shop two years ago, police said.

Lakshmaiah handled the daily cash transactions at Kumar’s shop. At around 8.15 pm on Wednesday, he was proceeding on his two-wheeler to a shop at Kadalekai Mandi to collect money.

The suspects accosted him near the mandi and demanded that he part with the bag, but Lakshmaiah refused. One of the suspects took out a knife and stabbed him to death. Police are yet to ascertain how much money was robbed from Lakshmaiah.