Mumbai: HDFC Vice-President Siddharth Sanghvi, who's body was recovered after five days on Monday by police, was murdered over Rs 30,000. 


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One person, Sarfaraz Shaikh alias Rais, has been arrested by cops for the murder.


The accused tried to rob Sanghvi in the parking bay of Kamala Mills where he worked as an attendant. The victim's office is also located in the same area. 


Last Wednesday, September 5, Sanghvi returned failed to return home, following which his family registered a missing complaint at the N M Joshi Marg Police station in Central Mumbai.


Three days after Sanghvi went missing, his father received a call, with the caller telling him that his son was safe and he need not worry, reported PTI. Investigations revealed that the call was made from Sanghvi's phone from Navi Mumbai, although the sim card was different, the police said.


The cell phone was traced to Rais, which is how the police nabbed him. 


During interrogation, Rais told police that he needed Rs 30,000 to pay the EMI for a loan taken for buying a motorcycle. 


Later, while attempting to rob Sanghvi, a scuffle broke out between the two and led to the murder. 


The accused, who also works as a cab driver, then stuffed the victim's body in his car and disposed it at Kalyan in the neighbouring Thane district.


A knife, which was allegedly used to commit the crime, has been recovered.


Several theories did the rounds about the case, including one of contract killing by some jealous bankers and suspected professional rivalry as the victim had been given three promotions in barely five years which doubled his salary.


With agency inputs