The attackers were travelling in the same car with BJP worker Nathuram Verma last night. The trio was returning from the village when the brothers Samar and Sudhir Singh fired several rounds at him, killing him on the spot, they said.
Agitated by the attack, local people overpowered the brothers and lynched Sudhir, whereas Samar managed to flee.
Police officials, who reached the spot to control the situation, were also assaulted and pelted with stones by the enraged villagers, a police vehicle was set ablaze.
Chandra said police teams have been formed to identify the persons who assaulted the policemen. Police officials have been deployed in the village to thwart any untoward incident.
He said a hunt is on for Samar and investigation is underway.
Police sources said the motive behind the killing is stated to be a dispute over benami assets worth several crore rupees belonging to Baba Munshidas, who was found murdered on May 26.