The deceased has been identified as one Mukesh and the injured as Kanhaiya, both of whom were found in an abandoned car at a check-post on the intervening night of March 26 and 27 in south-west Delhi's Dwarka sub-city.
When police checked the vehicle, they found the two persons lying in a pool of blood on the rear seat. They were rushed to a hospital, where Mukesh was declared brought dead and Kanhaiya was admitted with severe injuries, a police official said.
He claimed they had an argument with their associates over distribution of money after a robbery, following which they allegedly stabbed them, police said.
Mukesh and Kanhaiya were both assumed dead and were put in a car with an intention of dumping them near the city's border.
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The driver of the car at the check-post, seeing the police security, boarded another car (driven by his accomplice) which was right behind his vehicle and fled, a senior official said.
With Kanhaiya's help, the police conducted raids and arrested two of the accused, identified as Ajay and Deepak, while three others -- Omveer, Sunil and Vinay -- are at large, he said.
The plan was to take the car to an isolated spot near the city borders or at Haryana and set it afire, the official said.