Additional Sessions Judge Sandeep Yadav awarded life term to Ravi Kapoor and Ajay Kumar, who was convicted of kidnapping and killing Mohd Nadeem in January 2009, while observing that the case does not fall under rarest of rare category.
In August, Mr Kapoor was also awarded death sentence for killing 28-year-old IT executive Jigisha.
The court had also held two other accused - Aarif and Ajay Sethi - guilty of the offence under section 413 (habitually dealing in stolen property) of the IPC. The court sentenced them to imprisonment already undergone during the trial.
While the prosecution demanded death for Mr Kapoor, his counsel Deepak Sharma argued that the case does not come under the rarest of the rare category.
The court also imposed a fine of Rs 10,000 on him.
According to the prosecution, on January 8, 2009, police received an information that a body with bullet injuries was found in a forest area near Vasant Kunj area of South Delhi.
On March 23, 2009, when Kapoor was arrested in another murder case, he disclosed his involvement in Nadeem's killing.
At Mr Kapoor's instance, three other accused were arrested for killing Nadeem, who was kidnapped in his Tavera car and shot dead by the accused. A charge sheet was filed on July 1, 2009.
In 2010, the court framed charges under sections 302, 364 (kidnapping or abducting in order to murder) and 397 (robbery, or dacoity, with attempt to cause death or grievous hurt) of the IPC.
Mr Kapoor, along with another convict, was awarded death penalty on August 22 for killing Jigisha, by a court which had observed that the murder was committed in a "cold-blooded, inhuman and cruel manner" and victim was "brutally mauled to death".
Mr Kapoor and three others are also facing trial for allegedly killing journalist Soumya Vishwanathan in 2008.