The incident happened in Karnpur area under the jurisdiction of Bocha police station.
Three criminals accosted Ram Shringar Sahni and opened fire, Deputy Superintendent of Police (East) Mohammad Mushtafique said.
At that time another person was also present on the spot. He was also shot at, Mushtafique said.
Sahni was the representative of Baby Kumari, an independent MLA from Bocha.
The two injured were moved to Shri Krishna Memorial College and Hospital (SKMCH) where Sahni succumbed to his injuries, the DSP said.
The MLA rushed to SKMCH after hearing about the incident.