Dharampal was arrested yesterday from near Seelampur Market and seized a country-made pistol with two live cartridges from him, a senior police officer said.
According to police, Dharampal had lent Rs 70,000 to 40- year-old victim, Naresh Kumar, who had also taken a loan of Rs 1.5 lakh from another person named Jagpal.
Dharampal and Jagpal were asking Kumar to repay their money but he refused to do so, the police said.
"They made Kumar consume alcohol. After he was inebriated, they took him to a lonely street where they hit him and smashed his head against a wall," Deputy Commissioner of Police (Northeast), A K Singla said.
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After Kumar's family filed a missing complaint, the police sent out messages to their counterparts in the neighbouring areas and his body was found dumped in Greater Noida.
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