The assailants first threw chili powder at the face of Pravin Diwate, against whom several criminal cases had been registered, and then shot him and also attacked him with swords and daggers at his office on Waghapur road at around 9 am.
The attackers came on bike, police said.
They fired six rounds at Diwate. He died on the spot.
Five days ago Diwate was acquitted in the Gaurav Raut murder case.
He had faced at least five murder cases and had been jailed in the past.
Dean of the Government Medical College Dr Ashok Rathod said that Diwate's body had 20 wounds of dagger and sword.
Superintendent of police Akhilesh Kumar Singh and other senior officials visited the crime scene.
In the Raut murder case, police had invoked the MCOCA against Diwate and 13 others.
Diwate had a narrow escape a few months ago when there was an attempt on his life.
His wife Usha is a municipal councillor.
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