Vasai: A Rs 50 lakh bank transaction proved to be the breakthrough that helped the police unravel the conspiracy behind the attempted murder of GSM Foils managing director Mohansingh Parmar (46), who survived a shooting in Vasai on July 24. Investigators have now revealed that the murder plot had been meticulously planned nearly three months before the incident by the company’s director and chartered accountant, Sagar Bhanushali (33).The Valiv police have arrested seven persons, including Bhanushali, who is alleged to be the mastermind behind the conspiracy. According to investigators, none of the accused had any prior criminal record, a factor that initially made the probe particularly challenging.Police said Bhanushali had borrowed Rs 32 crore from Parmar after convincing him to liquidate his shareholdings, promising to return the money within six months. However, instead of repaying the amount, Bhanushali allegedly conspired to eliminate Parmar to avoid the liability. Police said Bhanushali suffered massive financial losses in the US stock market following the US-Iran conflict, and persuaded Parmar to purchase his stake in the company for nearly Rs 32 crore.According to police, Bhanushali, a chartered accountant by profession, joined GSM Foils in 2020 as the company’s CA. He later married one of the firm’s employees, earned Parmar’s trust and eventually became a director in the company.Since Parmar had no known enemies and had never reported receiving threats, investigators initially struggled to establish a motive or identify suspects. Despite questioning company directors and employees, the investigation yielded no substantial leads.The breakthrough came when police discovered a Rs 50 lakh bank transfer made by Parmar from his account into Bhanushali’s account. Investigators said Bhanushali had ensured that most of the Rs 32 crore was routed through other channels to avoid leaving a financial trail but this transaction raised suspicion and shifted the focus of the investigation on him.During sustained interrogation, Bhanushali allegedly confessed to orchestrating the conspiracy, assistant police inspector Sopan Patil said.Senior police inspector Dilip Ghuge said Bhanushali began planning Parmar’s murder nearly three months before the attack. He allegedly recruited his Goregaon-based friend Vijay Kumar Vishwakarma, who had also lent him Rs 3 crore. Police said Bhanushali promised to repay the money and persuaded Vishwakarma to help execute the plan.Vishwakarma then allegedly identified individuals with no criminal antecedents to avoid attracting police attention. He recruited two of his office employees and three others from Uttar Pradesh. The group was allegedly promised Rs 30 lakh to Rs 40 lakh for carrying out the murder, with Rs 5 lakh paid in advance.Investigators said Bhanushali maintained contact only with Vishwakarma and deliberately avoided conventional phone calls. Instead, he communicated through WhatsApp calls and Instagram to minimise the chances of surveillance.The execution phase began around two weeks before the attack. On July 24, the alleged shooter, Sujit Pandey, opened fire on Parmar with a country-made pistol. However, the attempt failed, and Parmar survived with injuries.In an apparent bid to deflect suspicion, Bhanushali remained at the company premises during the shooting and personally drove the injured Parmar to hospital. Police said he also regularly contacted investigators to enquire about the progress of the probe in an attempt to portray himself as concerned and distance himself from the crime.All seven accused were produced before a Vasai court, which remanded them to police custody till Aug 7.
