The nearly decomposed body was spotted by rescue teams near Gujjar Ki Thadi area, nearly two kilometers away from the spot where Ayush had drowned on August 25.
The body was stuck in garbage, an SDRF official said.
Nearly 45 members of civil defence and 30 from SDRF were roped in to find the body which remained untraceable for almost a week.
Garg was swept away in the gushing waters even as he tried to leap out of his car through the window, they said.