Businessman Syed Ali Madar alias Chand (55) was shot at by professional killers on P D’Mello Road on Wednesday, the police confirmed.
Chand was held by the collar, forced to turn and then shot in his head to ensure his death, the police said on Friday.
On Wednesday, Chand, who owned a shipping firm and was also a clearing and forwarding agent, left his Dongri home at 11 am.
Three hours later, he went to a restaurant at P D’Mello Road while his driver, Rizwan, waited outside.
At 3 pm, as he was getting into his Scorpio, two men on a black motorcycle rode up to Chand and fired twice at him. They then sped away towards Sewri.
Chand succumbed to his injuries at St George’s Hospital on Thursday.
A senior police official said the method of the killing gives a clear indication that it was not an amateur’s job.
“It was definitely a supari [contract] killing,” the officer said, adding that it was an “extremely professionally executed job”.
“We recovered more than Rs 1.5 lakh from his pocket which also proves that it was not a robbery attempt,” the officer added.
The police are also looking into the information that Chand had been allegedly cheating people claiming to double their money.
“There are several angles that we are investigating, including the possibility of gang rivalry,” the officer said.
Chand’s involvement in the financial and commercial dealings is also being probed. “He was active at the docks and we are exploring the killing from this angle too.”
They are also checking if he had any personal enmity with anyone.
Officers investigating the case had earlier said they had recorded the statements of Chand’s family and of witnesses, including Rizwan.