Rajeshwar Udani, resident of Mahalaxmi Society in suburban Ghatkopar, had gone missing on November 28.
His son had lodged a missing person complaint at Pant Nagar police station.
After a body was found in Panvel, police called the family for identification.
Police have registered a case under IPC section 365 (kidnapping), the officer said, adding that further investigation was underway.
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