During the probe, the deceased was identified as Prasad Tiwari, 37, a resident of Mulund area in neighbouring Mumbai, who worked as a cash collection agent with a businessman, he said.
The police also found that on March 6, when Tiwari was carrying Rs 12.66 lakh, his friend Dinesh Saroj, a tempo driver residing in Mumbai, allegedly took him to his home, robbed him of the cash and strangled him to death with the help of a friend, he said.
The accused and his friend Sunil Yadav (27) then packed the body in the plastic bag and dumped it in the creek, Shinde said.
Saroj was arrested on Wednesday and a search was on for Yadav, he said, adding that the police were also trying to recover the money.
A case was registered under Indian Penal Code Sections 302 (murder) and 201 (causing disappearance of evidence of offence) against the accused, he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)