7 Arrested in Maharashtra for Alleged Plot to Kill Businessman Over Rs 32 Crore Loan

Police in Maharashtra's Palghar district have arrested seven people for allegedly conspiring to kill a Vasai-based industrialist over a Rs 32 crore financial dispute. Investigators claim the attack was planned to avoid repaying a massive debt and to gain control of the victim's company.

The Valiv Police said the investigation is ongoing and more arrests or financial links may emerge as the probe progresses.

Businessman Allegedly Targeted Over Rs 32 Crore Liability

According to investigators, the alleged conspiracy was masterminded by Sagar Girish Bhanushali, a partner at GSM Foils Limited, located in Vasai's Diamond Industrial Estate.

Police allege that Bhanushali had received approximately Rs 32 crore from industrialist Mohan Singh Laxman Singh Parmar after suffering substantial losses in the stock market.

Investigators believe the accused planned the attack to eliminate the repayment obligation and secure complete control of the company.

Attack Outside Company Premises

The alleged attack took place on the night of July 24 outside the company's premises in Naikpada, Vasai East.

According to police, two motorcycle-borne assailants approached Parmar as he exited his office and opened fire at close range.

The businessman sustained a bullet injury to his shoulder and suffered additional injuries during the assault.

Police identified the alleged shooter as Sujit Devendrabhai Pandey, while Anup Virendra Prajapati is accused of assisting in the attack.

Investigators said the firearm allegedly malfunctioned after the first shot, prompting the attacker to strike Parmar with the pistol before both suspects fled the scene.

Victim Underwent Surgery, Condition Stable

Following the attack, Parmar was rushed to a private hospital where he underwent surgery.

Police confirmed that his condition has since stabilised and that he is recovering.

Officials stated that the victim's health has improved considerably following medical treatment.

Scientific Investigation Led to Arrests

Investigators said the breakthrough came after analysing:

• CCTV footage
• Call Detail Records (CDRs)
• Digital evidence
• Technical surveillance
• Forensic inputs

During the probe, police discovered that the motorcycle used in the attack carried a fake registration number.

A special investigation team subsequently travelled to Uttar Pradesh, where they arrested the alleged shooter, Sujit Pandey, suspected weapon supplier Manoj Thathera, and other accused.

Police Probe Possible Larger Criminal Network

Additional Police Commissioner Sanjay Shintre said investigators are examining scientific, digital, financial and forensic evidence to establish the full extent of the conspiracy.

Police are also exploring whether the case has links to a broader organised criminal or financial network.

Officials described the incident as a carefully planned murder-for-gain conspiracy rooted in business rivalry and large financial transactions.

Key Highlights

• Seven accused have been arrested in connection with the alleged murder conspiracy.
• Police say the plot was linked to a Rs 32 crore financial dispute.
• The alleged mastermind wanted to avoid repaying the debt and gain control of the company.
• Industrialist Mohan Parmar survived the attack and is recovering after surgery.
• The alleged attackers opened fire outside the company premises in Vasai East.
• Investigators continue to probe possible organised criminal and financial links.

FAQs

Why was the businessman allegedly targeted?

Police allege the attack was planned to avoid repaying a Rs 32 crore financial liability and to gain control of the victim's company.

How many people have been arrested?

So far, seven accused have been arrested by the Valiv Police.

Where did the attack take place?

The shooting occurred outside the company premises in Naikpada, Vasai East, in Maharashtra's Palghar district.

Is the victim safe?

Yes. Mohan Parmar underwent surgery after the attack and is currently reported to be in stable condition.

Is the investigation complete?

No. Police say the investigation is ongoing, and they are examining possible links to a wider criminal or financial network.