New Delhi, Sept 11: 20-year-old Sarfaraz Shaikh, charged as murderer of an HDFC Bank vice president, Siddharth Sanghvi, admitted to his crime before the metropolitan magistrate court in Bhoiwada.

Confessing before the magistrate, Shaikh said he attempted to robe Sanghvi as he was financially distressed. "I was under pressure to pay my bike’s EMI and also was in need of money," said the accused, who is primarily worked as a private taxi driver.

Since the banker resisted the heist, Shaikh ended up murdering him. The magistrate has sent him to police remand till September 19.

Sanghvi, who left the office at 7:30 pm on Wednesday, was intercepted in the parking lot by Shaikh. During the police interrogation, the accused claimed that the banker was stabbed by him in the parking lot and the body was stuffed into the deceased's car.

Shaikh then drove him to Navi Mumbai and threw the dead body into a creek in Sector 11, Airoli. However, he ended up keeping Sanghvi's phone with him which led to his arrest.

The police, however, is yet to ascertain why Shaikh left the parking lot in Kamala Mills at 11:20pm, when he had attacked Sanghvi at around 8pm. The accused has not provided a satisfactory explanation for the three-hour gap, the investigators said.

Sanghvi's last rites were conducted at the Chandanwadi crematorium on Monday evening. The 39-year-old deceased is survived by his wife and four-year-old.

(The above story first appeared on LatestLY on Sep 11, 2018 01:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).