The deceased has been identified as Rahul (30) while the other person, as yet unidentified, has been admitted to hospital in a critical condition.
Both own shops in the area's Beadonpura Market and knew each other. At around 7.30 P.M., a heated argument broke out between the two over some matter and the two had soon whipped out knives.
"It was Rahul who first attacked the accused, who in return stabbed him on the neck. By the time police reached the spot after being informed by locals, both of them were bleeding and lay unconscious.
A case of murder under Section 302 of IPC has been registered in this regard at Karol Bagh police station, but the exact cause behind the fight would be known only after the accused is fit to record his statement, he added.
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