Police said the victim, Muthyalappa, 36, was walking along the road carrying some files from his office to the BBMP head office when four men intercepted him and fatally attacked him.
Shocked passersby ran helter-skelter as Muthyalappa bled to death and the murderers fled the spot.
Alerted, the Kalasipalya police arrived at the scene of crime and rushed Muthyalappa to the hospital, but he died on the way.
Preliminary investigation revealed that Muthyalappa was into money-lending business and had an old rivalry with Mahesh, whom police suspect to be behind the murder.
A hunt has been launched to nab the killers. “We are close to catching the criminals. Leads in the case suggest that by the morning, we will be able to arrest them,” said an investigating officer.
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