Himanshu Bansal (24) was allegedly racing with two of his friends on their high-end motorbikes on August 14.
As he reached near the Mandi House metro station, Bansal's motorcycle was about to hit an elderly man, who was crossing the road.
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Bansal was rushed to a hospital, where the doctors declared him "brought dead".
The police said one of Bansal's friends, Lakshya, used to record the visuals of Bansal and their other friend, Gazi, riding bikes at a high speed through a camera on his helmet and upload the videos on the social media.
They added that on August 14, the trio had met to plan a motorcycle trip on Independence Day.
Bansal's family, however, claimed that he was not over- speeding at the time of the incident, even though the police suspected that the bikers were riding at a speed of 150 kilometre per hour.
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