Five persons were today arrested in connection with the murder of I Surya Prasad Rao, Assistant General Manager (AGM) of Vizag Steel Plant (VSP) on January 4.
The motive of the murder was loot, Police Commissioner R K Sharma said and suspected involvement of more than seven persons in the incident.
A forensic team had gone to the Namha Sai Guest House where Rao might have been killed and later his body was thrown at a secluded place near Sainik School, he said.
The assailants withdrew Rs 1.4 lakh from the account of Rao from an ATM at gunpoint, Sharma said.
