Mumbai HDFC Bank Executive Killed For Money, Say Police

The body of HDFC Bank vice president Siddharth Sanghvi, missing for nearly a week, has been found in Mumbai and the man who killed him has been arrested, the police said on Monday. The 39-year-old bank executive is suspected to have been killed in a robbery, the police say.

Sarfaraz Shaikh, a 20-year-old who was arrested on Sunday, allegedly killed the executive for money.

The accused was detained in Navi Mumbai and handed over to the Mumbai Police, which placed him under arrest, said Tushar Doshi, a senior police officer.

"We found his role in hatching the conspiracy, murder and destroying Sanghvi's body," he said.

The 39-year-old bank executive had been missing since he left his office at the Kamala Mills compound around 7.30 pm last Wednesday. He was allegedly killed the same night.

Shaikh has reportedly said he dumped his body in the bushes near the Haji Malang shrine at Kalyan in neighbouring Thane.

A day later, the executive's car was found abandoned near a high-rise apartment building in Navi Mumbai, with bloodstains and a knife on the rear seat.

Mr Sanghvi lived in south Mumbai's affluent Malabar Hill area with his wife and eight-year-old son. A specialist in credit and market risk, he joined the bank in 2007.

His family went to the police and filed a missing report after he did not return home till late on Wednesday night. His body was found on Sunday.

His phone was switched on for a few minutes in Navi Mumbai after he went missing, said the police. The phone was tracked down to Shaikh.

When the police caught him, Shaikh allegedly kept changing his statements and tried to give misleading information to derail the probe.

The police are analysing Mr Sanghvi's mobile phone records for more clues.

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(With inputs from PTI)