The murder had stunned the Jain community country-wide, especially the arrest of two prominent business magnates in the city, including Dr Champalal Desarda and Suwalal Chalnani.

Police have also arrested Chalnani's son Sandeep, his friend Balu Suarna, DKMM Homoeopathic College principal Dr Shantilal Desarda, and an ashram supervisor, Bhikchand Pipada.

Sanjay Bhadawe, who is accused of having executed the murder as per a contract given to him by the other accused, has been charged under Section 302 of the IPC. Police say Bhadawe has confessed to the murder while Pipada too has stated that he had given Bhadawe Rs 50,000 of the total Rs 2 lakh the trustees and principal had asked him to pay Bhadawe.