HDFC bank non-committal about the motive of vice president Siddharth Sanghvi's murder

Senior HDFC bank officials have debunked the theory that an internal rivalry over promotion could have led to the alleged murder of the bank's vice president Siddharth Sanghvi. Sanghvi had been missing for a week and his body was finally found in Kalyan by police on Monday.

"We have been following what the media has been writing and the matter is currently under investigation. We are waiting for an official announcement instead of speculating on theories floating around," said a senior bank official.

Sanghvi was a deputy vice president in the bank and was promoted as a Vice President in January 2017. He was associated with the bank for eleven years and got promoted thrice, the last being 17 months ago. The official informed that it is quite common for senior executives to get promoted every 2.5-3 years. He admitted that the promotion theory hence looks a bit far fetched and unreal to be true.

"We will comment officially only when things come to the fore and we know what exactly had happened, otherwise it won't be safe to comment. There is a lot we don't know," concluded the Senior Official.

Sanghvi joined HDFC bank in 2007 and got promoted for the first time to the post of AVP in 2011, then as DVP in 2015, and finally as VP in 2017.