No valuables were found to be missing from his workshop, they said.
The police suspect it to be the handiwork of an employee and have detained some of the workers for questioning.
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A helper of Ravinder Kapoor called the police today, saying that someone had killed Kapoor and fled after locking the shop from outside.
A police team from the Karol Bagh Police Station reached the spot and found Kapoor lying on the floor with a cloth around his mouth. He had his hands tied with another cloth.
Kapoor owned several workshops in the area. On Sundays, he usually kept the door of his shop closed. Barring most of the employees, only a few workers used to be present in the shop.
It is suspected that the killer was known to Kapoor.
The killer might have initially tried to strangle him from behind but when he resisted they smothered him after hitting his head on the wall, the police said.
The body has been sent for post-mortem.
The police are scanning the CCTV footage of the shop to identify the killers. However, preliminary probe suggests the role of the worker who informed the police. Cops have found some inconsistencies in his statement which are being verified.