Imphal, Nov 30 : In a daring robbery, Rs 18.85 crore was looted by an unidentified armed group from a Punjab National Bank (PNB) branch in Manipur's Ukhrul town on Thursday, officials said. Police, quoting eyewitnesses, said that 8 to 10 armed men stormed into the PNB bank branch situated in Viewland-I in Ukhrul town just before the evening when the bank employees were counting the amount after the day's transaction and looted Rs 18.85 crore. The unidentified masked men reportedly carried sophisticated weapons and overpowered the security personnel and the PNB branch staff. "The security personnel and bank staff were tied with ropes at gunpoint and locked inside the store room by the armed men who fled with the cash,' a police official said. Security forces led by senior police officials have immediately reached the spot and the bank authority has lodged a formal complaint with the police in this regard. The security forces have launched a massive search operation to nab the looters. This is the first time such a daring incident has happened at Ukhrul town since the ethnic violence broke out in Manipur seven month ago. A sum of Rs one crore was looted by the armed gang from an Axis Bank branch at Churachandpur in July. /IANS