The incident took place at the Alokdia Chourasta intersection of Sanora union in the morning.
Locals said that Abbas Ali, son of late Hasen Ali of village Alokdia under Sanora union of Dhamrai, was headed to the bazaar carrying Tk 725,000 in cash to purchase a cow.
However, it turned out several local youths including Julhas Uddin, Suruj Mia and Idris Ali, were lying in wait for him. As Abbas reached the intersection, they came out of hiding and obstructed him.
After severely beating him they looted the money from him.
Hearing Abbas screaming, people of the locality rushed to the spot but the snatchers managed to flee.
Abbas Ali was admitted to Dhamrai Sadar hospital. The on-duty doctors informed that his condition remains critical.
Immediately after the incident Dhamrai police visited the spot. Special drive is on to arrest the culprits, said the OC of Dhamrai police station.