Jeevan, a horse owner, had come for a marriage party yesterday at Jatipura village under Goverdhan police station when he had a fight with band members, SP City Mukul Dwivedi said.
The man ran away from the spot when the band called the police, following which Jeevan fell into the well during the chase and died before he could be rescued, he said.
The incident sparked protest from area people, who blocked Goverdhan Parikrama Marg and locked the two constables in a room after assaulting them, police said.
"An FIR against constables - Govind Singh and Ravinder Singh - was registered and they were suspended. The agitation by the villagers was withdrawn when relief measures to the deceased family were assured by SDM," he said.
The family of the deceased have been assured a compensation of Rs 5.30 lakh along with pension for his wife.
A plot has also been assured, provided it is available and the family is entitled for it, and a request for providing compensation of another Rs 5 lakh from Chief Minister'sdiscretionary fund will also be sent to the government, SDM Rajesh Kumar said.