Vasai Police have claimed to have uncovered the motive behind the attempted murder of industrialist and GSM Foils Managing Director Mohansingh Parmar, alleging that the attack was orchestrated as part of a conspiracy to evade financial liabilities worth Rs 32 crore and seize complete control of the company.
According to the police, GSM Foils co-chairman Sagar Bhanushali was the alleged mastermind behind the plot. Investigators claim Bhanushali planned the attack to eliminate Parmar, gain full control of the company and escape mounting debts. Seven people, including Bhanushali, have been arrested in connection with the case.
Financial Crisis Led To Alleged Conspiracy
Police said Bhanushali had allegedly suffered losses of nearly Rs 55 crore in the stock market and had accumulated debts to multiple people. Investigators believe the financial crisis prompted him to hatch the murder conspiracy.
What Happened?
The incident took place on July 26 in Vasai’s Naikpada area, when two motorcycle-borne assailants allegedly opened fire at Parmar.
One bullet struck the 46-year-old industrialist in the shoulder. The attackers reportedly attempted to fire a second shot, but their pistol malfunctioned, allowing Parmar to survive. The accused fled the spot immediately after the attack.
Parmar is currently undergoing treatment and is said to be in stable condition.
Contract Killers Allegedly Hired For Rs 40 Lakh
Additional Commissioner of Police Sanjay Shintre said the alleged conspiracy was driven by Bhanushali’s intention to remove Parmar from the company’s management.
According to police, Bhanushali allegedly hired contract killers for Rs 40 lakh and paid them Rs 5 lakh as advance to execute the attack.
Investigation Underway
A special police team arrested the alleged mastermind, Sagar Bhanushali, from Uttar Pradesh, while six other accused were apprehended from different locations.
Police said the investigation is continuing with the help of scientific, technical, digital, financial and forensic evidence. Officials are also probing whether any additional individuals were involved in planning or facilitating the alleged conspiracy.