Mumbai: In a rather interesting twist to the Siddharth Sanghvi murder case, the accused has confessed that he killed the banker to repay the EMI for his vehicle.

Siddharth Sanghvi, Vice-President of HDFC Bank had gone missing couple of days ago and his body was found in Mumbai’s Kalyan area on Monday.

The police had nabbed 39-year-old cab driver named Sarfaraz Sheikh with a connection to the case. The accused had initially confessed to the crime and said that he was hired by somebody to execute the plot, however, Sheikh is said to have later told the police that he killed Sanghvi to meet his financial commitments.

Police sources said that Sheikh only had plans to rob the banker, but eventually ended up killing him as there was resistance. All this was done only because Sheikh had to pay Rs 30,000 towards EMI for his vehicle.

The police said that Sanghvi had made a phone call to his father to inform about his well-being, however, the phone was in Sarfraz’s possession, which led to his arrest.

Sarfaraz had killed Sanghvi, kept the dead body in Sanghvi’s car and abandoned the vehicle in Kalyan area with the knife used for the murder.

The police have charged Sarfaraz with IPC sections 364 (kidnapping) 365 (abducting with intent secretly and wrongfully to confine person), IPC sections 397 (robbery) and 302 (murder).

The accused was produced before a court which remanded him to police custody till September 19.