The man was murdered on May 28 and the five were arrested yesterday, Superintendent of Police (City) Chandan Kumar Jha told newsmen.
He said, police had registered a named FIR against six persons based on the statement by the man's wife on May 29.
As per the FIR, the accused had allegedly attacked the man with a dagger and wounded him fatally over distributing electricity through illegal connections to residents of the locality in lieu of money.
In the course of investigation, Jha said police had arrested one of the named accused on May 30 and information gathered during subsequent interrogation led police to arrest the other five accused named in the FIR.
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