The victim, Pratap Singh, aged 53, a junior manager at a bank in Kachaheri Road area, had gone missing on July 2. Three accused have also been arrested in this connection, police said.
According to police, Singh was murdered allegedly by people whom he had lent Rs 20 lakh on interest, and who killed him for not paying back the money.
Family members of the victim, however, have denied that it was Singh's body. Police is going to conduct a DNA test.
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