The deceased has been identified as Manjeet, a class 12 student at a government school. His relatives said that he was stabbed at least 30 times.
On Saturday evening, Manjeet received a call from a friend, also suspected to be a minor, who invited him for his birthday. He did not return that night and the next morning his body was found near a drain in Ranhola area.
"A case of murder has been registered. The accused has been identified but he is absconding. A team has been formed to track him down," DCP (West) Pushpendra Kumar said.
The motive behind the act and details about the possible involvement of others will come to light once the accused is questioned, he added.