The accused, Jigar Dhirajlal Kareliya, collected documents to check eligibility and later took four crossed cheques as security deposit to process the loan.
The deceased who has been identified as-Krishna Palaram Tusand ( 36) was attacked by the accused after he was suspected for his alleged involvement in stealing jewellery items from his workplace on a regular basis
The Navghar police have busted a racket and arrested four members of the gang who used women as bait to lure and extort money from well-heeled victims by staging police raids in Bhayandar.