The accused have been identified as Sushil Kumar, Irfan Hakimuddin and Irfan, police said. The fourth accused, Rahees, is absconding.
Suresh Johri (59) was shot dead at the Jansath bus stand while he was on his way to Bijnore from Muzaffarnagar.
According to SP (City) Shravan Kumar money dispute could be the reason behind the murder.