The police say they believe Amar Kumar Gupta was killed by two men, who were known to him.
Amar was confronted by the accused, Danish Sheikh and Feroz Sheikh, after he allegedly stole their phone. This resulted in a fight which left Amar seriously injured, police said.
Amar's body was found at 12:30 am on Wednesday from a ditch in Mumbai's Saki Naka, a neighbourhood in the Andheri east suburb of Mumbai, following which his brother Pankaj Gupta filed a complaint with the police against the accused.
Danish Sheikh and Feroz Sheikh have been sent to police custody till May 29.