A car with a registration number of Punjab was found parked next to the body.
A man whose family operated a wholesale business of soft drinks in Amritsar allegedly faked his death after killing someone else for loan waiver and insurance money, police said on Saturday.
The police said Anoop Singh did this for financial gains worth Rs 1 crore. He was charged with murdering a homeless man and destroying evidence, police said, adding that his brother Karandeep Singh and domestic help Karan, alias Kaka, had been arrested for the planning, preparation and execution of the murder plot, a Punjab Police spokesperson said.
"Further, the role of other family members, including Anoop Singh''s father, is being investigated," he said.
The police official on December 5 had received information that a charred body was lying on the Harike-Patti road.
A car with a registration number of Punjab was found parked next to the body.
"On the examination of the body, it was concluded that it was burned after pouring oil," the spokesperson said.
Aadhaar, PAN and ATM cards with some photos were recovered from the scene.
"A bottle of oil was also recovered from the car," he said.
Anoop's father Tarlok Singh was informed about the incident, who identified the body as that of his son.
The body was, thereafter, sent to the local Civil Hospital for a post-mortem.
Further, based on the statement of Tarlok Singh, a murder case was registered on December 5.
The spokesperson of the Punjab Police said during thorough investigation, Karandeep revealed that Anoop and Karan had brought a homeless migrant, Babba, with them to the Harike-Patti road.
"Thereafter, both Anoop and Karan stabbed Babba with a sharp-edged weapon and then burnt the body by pouring oil on it," he said.
"Karandeep Singh revealed that he was following the car in his Jeep to assist in the escape of Anoop Singh and his accomplice Karan after the commission of the crime," the spokesperson said.
Investigation revealed that a business partner of Anoop Singh, who is based in Haryana, had offered shelter to the accused.
"He is being questioned for further details. Anoop Singh and Kaka were arrested by a police party from Tohana in Fatehabad of Haryana," he said.
The spokesperson said the accused had taken loans amounting to Rs 75 lakh, which could have been waived as a result of his death.
He also had a life insurance cover of Rs 36 lakh besides other policies, which would have resulted in financial gains exceeding Rs 1 crore.