Police said during investigation, it came to light that Amit had lent about Rs 6 lakh to Naveen, who was yet to return around Rs 2.5 lakh. Amit kept a car belonging to Naveen as security.
"Amit and Naveen had spoken on the phone. Amit along with his help Nikhil went to meet Naveen to get the remaining money. An altercation appeared to have taken place between them on Oct 16-17, resulting in the murder of both Amit and Gulati," police said.
The bodies of the two were found in a canal in an area falling under police station K.N. Katju Marg on Octber 17 and were identified the same day by Outer North District police team.
One of the accused, Anthony Bagher, a resident of Khera Khurd in Delhi, has been detained. The search is on to nab the remaining accused persons, police said.