The incident occurred last night when the victim Jeevan Kumar, resident of Sangam Vihar was called out of his house by the accused persons to meet them at Barn Complex near Devli. After that there were few gunshots and later he was found lying in a pool of blood, family members said.
A personal rivalry might be the cause of murder, police said.
Jeevan owned a finance company and use to supply water tankers in Neb Sarai area that do not have water connections and there were possibilities that he had fallen out with some people over the share of money which led to the murder.