The deceased, identified as Chandrajit alias Ajju, was out on bail. He was jailed in Tihar in connection with several cases, including that of robbery and attempt to murder, police said.
Around 9 PM last night, he was attacked by a group in Sultanpuri area at a spot not very far from his residence in Aman Vihar. The police were informed and Ajju was rushed to a hospital where doctors declared him dead.
They turned out to be members of a local gambling racket and claimed that Ajju used to extort money from them whenever he was out on bail.
When Ajju approached them last night, they first attacked him with sticks and them stabbed him multiple times before they fled the spot, police added.