Businessman, four others held for killing financier

New Delhi: A businessman and his four accomplices here have been arrested over the murder of a financier following a monetary dispute, police said on Thursday.

Gemstone trader Manjot Singh, 48, Rajender, 33, Rohit Thakur, 30, Dinesh, 22 and an unnamed juvenile, residents of Malviya Nagar and Ambedkar Nagar in south Delhi, were taken into custody on Wednesday. 

The police said Sanjay Chawla, 47, was stabbed near his residence in Malviya Nagar by unidentified men on February 2. Chawla succumbed to his injuries in a hospital.

"During investigation Manjot Singh was found to be the main conspirator in the murder. He had taken Rs 52 lakh from Chawla but failed to pay monthly interest in the last few months. Chawla had insulted him on the issue," Deputy Commissioner of Police Romil Baaniya said.

"Humiliated, Manjot Singh hatched a plan with Rajender and Rohit to eliminate Chawla and offered Rs 5 lakh for the murder. Rajender hired two criminals -- Dinesh and the juvenile -- for the murder," Baaniya said.

Police said Rajender gave Rs 35,000 in advance to Dinesh, who along with the juvenile chased Chawla from his office to residence on the fateful day. "Dinesh stabbed him repeatedly while the juvenile kept a watch. They escaped from the spot," the officer added.