Harish Kumar was allegedly kidnapped from his residence in the Jain colony on Sunday by a businessman, Sandeep Jain, and his accomplices, they said, adding his body was found in a factory.
Sandeep, who runs a plastic factory, had a dispute with Kumar as the latter had allegedly not given him new currency notes after taking demonetised notes from him in November last year, they said.
Kumar's postmortem report has revealed the ruthless torture he was exposed to. According to the report, the accused thrashed him so badly that his lungs were ruptured after which he died, the police said.
Ludhiana Additional DCP Ranbir Singh said Sandeep Jain and another accused have been arrested on the charges of murder and kidnapping.
Further investigations were under progress, he said.
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