Jaisukh Patel, 52, the owner of Ajanta Watches, was stabbed by his former distributor, in Worli on Friday.
According to the police, the incident took place around 5pm outside Nehru Centre, where Patel and accused Sandeep Mathuria, 50, had come for a watch exhibition.
Mathuria was earlier the distributor of Patel’s watches. Patel, later, terminated his contract. Mathuria, a Nashik resident, had been allegedly trying to convince Patel to restart work with him for some years. But, Patel turned down his offer each time. When the duo met at the exhibition, they allegedly had an argument over the same issue. Irked, Mathuria attacked Patel with a paper-cutter. He slashed Patel five times on his neck and chest. The onlookers rushed him to the Jaslok Hospital.
Dr SK Mohanty, medical director, Jaslok Hospital, said: "Patel has suffered serious injuries made from a sharp object on his face and scalp. He is being operated at present by the plastic surgeons. His condition is stable."
Mathuria was arrested by the police mobile van in Worli. Vineet Agarwal, additional commissioner of police (central region), said that they suspect business to be the motive behind the assault. “He has been booked and arrested for attempt to murder under section 307 of the Indian Penal Code. We are probing the case further to find out the actual motive,” said T Telwekar, police inspector of Worli police station.
The police are recording the statements of the victim and eyewitnesses. Mathuria would be produced in the court on Saturday.