MUMBAI: HDFC Bank’s vice-president Siddharth Sanghvi, whose decomposed body was recovered near Kalyan on Monday morning, was kidnapped for extortion and killed in a scuffle with his kidnapper, Mumbai police said on Monday. Sarfaraz Shaikh, a 20-year-old cab driver who has confessed to the crime, was produced in a Mumbai court and sent to police custody until September 19.
Police said Shaikh, who was working with HDFC Bank for the past three years, had kidnapped Sanghvi for extortion. When he threatened Sanghvi with a knife, a scuffle ensued and Sanghvi was killed. The police recovered the knife and Sanghvi’s mobile phone from Shaikh’s possession.
After killing Sanghvi, Shaikh disposed of his body in Kalyan and parked his car in Navi Mumbai, the police said. The body has been sent for autopsy. The police have not yet ruled out professional rivalry being behind the murder. A few of Sanghvi’s co-workers have been detained and several HDFC Bank employees have been questioned, the police said.
According to reports, Sanghvi was envied by colleagues for his promotions and increments. He was promoted thrice in 10 years. The police claimed that Shaikh had been changing his statements. In one statement, he said he wanted to rob Sanghvi and killed him when he resisted, in another he said a woman claiming to be Sanghvi’s wife hired him for the murder.