Kiran alias Pappu (42) was returning from a factory in Saipuram on Friday night when he was attacked with sharp weapons and murdered, they said.
His body was recovered from the spot yesterday, they said.
An FIR has been registered against Chaman, Billu and Shankar on complaint of the family members of the victim, they said, adding that all three are absconding.
The family members have alleged that Pappu had an altercation with the three youths a few months ago, they said.