Mumbai: What began as a financial dispute spiralled into a chilling murder-for-gain conspiracy in Maharashtra's Palghar district. Police say Vasai-based industrialist Mohan Singh Laxman Singh Parmar was allegedly targeted in a Rs 32 crore plot hatched to erase debt and seize control of his company.
The Valiv Police have arrested seven people, including alleged mastermind Sagar Girish Bhanushali, a partner in GSM Foils Limited. Investigators allege Bhanushali, reeling from stock market losses, had borrowed Rs 32 crore from Parmar. Parmar's death, they suspect, would have wiped out the liability and handed Bhanushali full control of the firm.
On July 24, two bike-borne assailants ambushed Parmar outside his office in Vasai East. Shooter Sujit Devendrabhai Pandey allegedly fired at close range, injuring Parmar's shoulder, before the weapon jammed. He then struck Parmar with the pistol butt and fled with associate Anup Virendra Prajapati.
Parmar was rushed to a private hospital and has since stabilised after surgery. Police cracked the case using CCTV footage, call records and digital evidence, later arresting Pandey, weapon supplier Manoj Thathera and others.
Police sources said the probe is being pursued with forensic, financial and digital trails. Investigators are now examining possible wider criminal networks linked to the conspiracy.