According to the prosecution case, Samant was gunned down at Powai on January 16, 1997. While Samant died on the spot, his driver Bhimrao Sonkamble was injured in the shootout. According to the police, Samant was assassinated due to previous enmity with one Ramesh Patil, who had hired the hitmen. Bharat Nepali, the mastermind behind the killing, had also been arrested, but was released on bail.

According to eye-witness accounts, the accused Ganpat Bhikaji Bhamne is said to have fired at Samant with his 9mm Taurus, a Brazilian-made pistol which has been recovered along with 163 unused live cartridges of various bores. Special Public Prosecutor A G Deshmukh argued that this is a case for a pre-planned murder in the presence of witnesses in broad daylight. Looking into the gravity of the case, the accused should not be released on bail, he argued.Counsel for Bane, Satish Maneshinde, said in his submissions that the accused in a resident of Mumbai and is not likely to abscond.