According to the police, accused Mohit Gupta owed money to someone and to pay off his debts he had brutally murdered Om Prakash Verma to steal his valuables.
The victim's Aadhaar card, driving license, vehicle registration certificate and education department identity card were recovered from the accused, police said.
A two-wheeler and a knife were also recovered from the accused who confessed to the crime during interrogation, the police said.
Gupta was arrested on the basis of information received from a rickshaw-puller who was found using the victim's mobile, police said.
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The incident occurred on August 8 night when 25-year-old Gupta, who had allegedly planned the murder, waited for the time when the victim would be alone in his shop at Chanakya Marg in Babarpur area of north east Delhi.
He pushed the victim inside the shop as he was pulling down the shutter and cut his neck with a knife, police said, adding that the accused then looted the gold rings, cash, ID cards and mobile of the deceased.
He had sold the rings for Rs 10,000 through a friend and paid his debt of Rs 9,800 with the money, they said.
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