THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Saturday, December 09, 2000

• AGRI-BUSINESS
• BANKING & FINANCE
• COMMODITIES
• CORPORATE
• FEATURES
• INDUSTRY
• INFO-TECH
• LOGISTICS
• MACRO ECONOMY
• MARKETS
• MONEY
• NEWS
• OPINION
• POCKET
• INFO-TECH
• CATALYST
• INVESTMENT WORLD
• MONEY & BANKING
• LOGISTICS

• PAGE ONE
• INDEX
• HOME

News | Next | Prev


`Local gangs behind Garware kidnap'

Our Bureau

PUNE, Dec. 8

POLICE officials investigating the case of the missing Pune-based industrialist, Mr. Harish Garware, owner of Garsons Industries, have ruled out the possibility of kidnap by the Chhota Rajan gang. ``This is a handiwork of either the local gangs or gangs which are affiliated to the bigger gangs and not of Chhota Rajan, Mr. Mohammedbhai Mulani, Assistant Police Commissioner, Crime Branch, has said.

Talking to presspersons here on Friday, he noted that the kidnappers who had kept the deadline for ransom as Friday evening had extended it. The deadline had already been extended three times since the kidnapping which took place on Monday. The ransom wa s for Rs. 1 crore.

He said the kidnappers have been calling the Garware family at regular intervals and that as per their information, Garware and his driver, Mr. Unnikrishnan Pillai, were safe.

Investigations about Mr. Garware's business connections revealed that he was in serious debt and that his company had incurred a total loss to the tune of Rs. 8 crores. Mr. Mulani pointed out that the loans had been taken from people in the Thane, Mumbai and Navi Mumbai area and that the kidnapping could be the work of hired gangsters.

Besides dealing in poultry equipment, Mr. Garware was also into developing agricultural land. Inquiries had also shown that he was planning to sell his factory and his bungalow to minimise the debts.

Police were also investigating whether he had borrowed money from `loan sharks' (private moneylenders affiliated to criminal gangs) and whether the kidnapping was part of their efforts to get back the loan or the `supari' from another party.

Mr. Mulani stated that the Mumbai police were in close touch with their Pune counterparts and that search operations were in progress in both the cities. The police were optimistic about the safe return of Mr. Garware and his driver, he added.

Related links:
Industrialist `kidnapped' in Pune

Comment on this article to BLFeedback@thehindu.co.in

Send this article to Friends by E-Mail


Next: Increase in marine product exports
Prev: Licensing norm relaxed for SEZs, EPZs
News

Agri-Business | Banking & Finance | Commodities | Corporate | Features | Industry | Info-Tech | Logistics | Macro Economy | Markets | Money | News | Opinion | Pocket | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics |

Page One | Index | Home


Copyrights © 2000 The Hindu Business Line.

Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line.