The incident happened late last night after a scuffle broke out between Rahisuddin and his 45-year-old wife Shabana, a senior police officer said.
Rahisuddin's son Aamir had lodged an FIR in this regard in Masuri Police Station, he said.
"Rahisuddin and Munsheed were good friends. Munsheed used to visit Rahisuddin's house and became familiar with Aamir and Shabana.
"Rahisuddin, however, did not like his wife talking to Munsheed," the officer said.
"Rahisuddin had asked Shabana not to talk to Munsheed following which she stopped meeting him. But, Rahisuddin continued to doubt his wife's fidelity," he said.
After shooting Shabana dead, Rahisuddin and Munsheed fled from the scene, he said.
Rahisuddin will be arrested soon, adding police have also launched a manhunt to nab Munsheed.