Ghaziabad, June 7 -- A 42-year-old man was arrested on Friday for shooting dead a 32-year-old hotelier in a market in Raj Nagar Extension in Ghaziabad on June 1, police said. The victim, Rahul Dagar, and the accused, Mohit Chaudhary, were friends and business partners and the murder was the fallout of a dispute over money. Seven people - five friends and business partners of the victim, and two unidentified suspects - were involved in the conspiracy to kill Dagar, but it was Chaudhary who shot him dead, police said. He is the second person arrested in the case. Ritesh Bindal, 37, was arrested on June 1. "Rahul Dagar ran a hotel in Haldwani, Uttarakhand with his business partners and was also going to open a hotel in Noida on June 2. So on the night of June 1, he went to the market with his 25-year-old cousin Ashish Kumar and a few friends to buy sweets for the opening ceremony. His business partners including Chaudhary arrived there in a car. Chaudhary fired twice from a country-made weapon. One bullet hit Kumar in the leg and the other hit Dagar in the chest. Dagar's friends rushed him to a hospital where he was declared dead. Kumar underwent treatment for a leg injury," said Dharampal Singh, station house officer of Nandgram police station. "Chaudhary is the prime suspect who opened fire. He was arrested from Raj Nagar Extension, and a .32 caliber weapon used during the crime was also recovered from him," he added. Police said that Chaudhary is a resident of a highrise in Raj Nagar Extension. The first information report (FIR), which was lodged based on a complaint by Dagar's family, names Nagendra Chaudhary, Manish Chaudhary, Rohit Chaudhary, Ritesh Bindal, and Mantri (single name) as accused, along with two unidentified people. The FIR was registered on June 2 under Bharatiya Nyaya Sanhita sections of murder, attempt to murder, rioting, voluntarily causing hurt, and criminal intimidation. "We have learned that Nagendra Chaudhary also used a weapon during the incident. We are searching for him," the SHO added. Poonam Mishra, assistant commissioner of police of Nandgram Circle, said that the dispute between the accused and victim was related to the hotel they had opened in Haldwani. "Our teams are trying to track down the other accused. They will soon be caught. The murder resulted out of a dispute related to a hotel the men had opened in Haldwani," she said. The FIR said that after opening the hotel in Haldwani, Nagendra allegedly diverted money to his personal bank account, which Rahul and another of his business partners, Sachin Sharma, objected to. The deceased's uncle also said that Dagar had lent Rs.50 lakh to accused Bindal, but refused to return it....