The deceased has been identified as Deshraj, whose son, Rahul, is an eye-witness in a murder case which took place last Holi.
The incident took place around 9. 20 pm yesterday when Deshraj, a small-scale dealer of electronic goods, was returning from work, and the group allegedly attacked him near a weekly market in the area and fled.
Deshraj was rushed to a hospital, where he was declared brought dead, following which a case of murder was registered, police said. He had sustained stab injuries on his chest, abdomen and thigh.
So far, the police have questioned around 10 persons regarding yesterday's incident. However, they are yet to find any major lead.
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During Holi last year, Rakesh and his associated had allegedly attacked Deshraj's son Rahul and his friend Mohit.
While the latter died of injuries, the former survived and became and an eye-witness in the case.
Rakesh was later arrested by the Crime Branch, police added.