Cops investigate if Karan Kakad murder linked to betting loan

Officers probing the murder of Karan Kakad (28),an aspiring producer who was allegedly killed by Vijay Palande and two of his aides on March 6,now suspect that he was killed after he was unable to repay a loan he had taken to place bets on cricket matches.

Written by Megha Sood | Mumbai | Published:April 20, 2012 3:42 am

Officers probing the murder of Karan Kakad (28),an aspiring producer who was allegedly killed by Vijay Palande and two of his aides on March 6,now suspect that he was killed after he was unable to repay a loan he had taken to place bets on cricket matches.

Police are probing the possibility of the money having been loaned to Kakad by a prominent bookie or by underworld elements.

Police sources said Kakad was in touch with bookies who knew him as ‘Prince’. Since Kakad did not own much property,money allegedly placed by him on cricket bets is emerging as a key factor that led to his death,police sources said.

“Kakad’s death is appearing to be linked to a financial dispute he was caught up in,or a deal gone bad. It has also been found that he was quite deeply involved with bookies and the cricket-betting circuit,and may have invested a large amount of money,” said a Crime Branch officer.

Police are also probing whether Palande killed Kakad after being offered money for the job by the latter’s creditors.

“It appears that Kakad lost a huge amount of money borrowed from a third person,who could be from the underworld or be a bookie. One of the angles being investigated is that Kakad lost the amount,which ran into crores,and was not able to return the loan. This might have been the motive of his murder,” said another police officer.

“Kakad used to boast in front of Simran Sood that he had a huge amount of cash at his house. Palande knew that he would get Kakad’s BMW car,if not a large amount of money,if Kakad was killed. But Palande also might have known that Kakad’s creditors could pay him more to kill him,” the officer said.

Meanwhile,Crime Branch sources probing the murder of Arun Tikku (62),a consultant from Delhi who was killed at his son Anuj’s Andheri (West) residence on April 7,on Thursday said Palande and his associates had learnt that Arun had property worth around Rs 50 crore,and was leaving it all in a will to his son. Officers said Palande’s plan was to hoodwink Anuj and then,over time,take over all the property.

“During interrogation,Palande said he had decided to con Anuj and get him to sign over all the properties over a course of time. According to Palande,he had even decided to drug Anuj to achieve this,” said a Crime Branch source.

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