Police said that Sarfaraz had bought a motorcycle and needed Rs 35,000 to pay off a loan.
Mumbai: Sarfaraz Shaikh, 21-year-old who has been arrested for killing HDFC bank executive Siddharth Sanghvi confessed of murdering him for money to pay his EMI.
According to Hindustan Times report, Sanghvi was killed by Shaikh in a robbery attempt which went wrong on September 5 in the parking lot of Kamala Mills compound in Lower Parel.
“Jo hua woh hua sir, meine hi kiya hai (Whatever has happened has in fact happened and I have done it),” said Shaikh when he was put on the stand.
On Monday, before the metropolitan magistrate, Shaikh said, “Gaadi ki EMI aur paise ka pressure tha aur mein dekhta tha unko upar-neeche jaate (I was under pressure to pay my bike’s EMI and also was in need of money and I used to see him going in and coming out of the building).”
According to a NDTV report, police said that Sarfaraz had bought a motorcycle and needed Rs 35,000 to pay off a loan. On Wednesday evening, he cornered Sanghvi in the parking lot and demanded money. When Sanghvi raised am an alarm, Sarfaraz stabbed him.
Shaikh has been sent to police custody till September 19. He has been arrested under Section 302 (murder), Section 364, 365 (kidnapping) and section 397 (robbery).
The investigating officer told the court that the police require Shaikh’s custody to find out the motive behind the murder and find out if acted alone or had any accomplices. The items which were still missing from Sanghvi’s wallet need to be recovered as well.
The three-hour gap between Sanghvi leaving office and his car driven out of the parking lot, between 8 pm and 11.20 pm needs to be cleared as how exactly the events turned out to be.
The murder is believed to have taken place between 8 pm and 8:30 pm, which will be clearer after the autopsy results.
Police believe that Shaikh knew the layout of the parking lot very well as he had worked in the Kamala Mills compound as a contract labourer over the past three years.
Shaikh has admitted to driving off in Sanghvi’s car.
Sanghvi’s family conducted his last rights at the Chandanwadi crematorium on Monday evening. He is survived by his wife and four-year-old son.
Sanghvi’s disappearance unnerved banking and corporate circle and fanned many theories, including one of murder by jealous colleagues and suspected professional rivalry.