Acting on a tip-off, a joint team of Assam and Meghalaya police raided Sunduba village under Bhuragaon circle here and arrested four persons, Morigaon Superintendent of Police Arabinda Kalita said.
Businessman Amit Agarwal was abducted on Friday from Shillong and ransom demanded from his family members.
During interrogation, the arrested persons reportedly admitted that they killed Agarwal at Nongpoh and left his body in a forest near Assam-Meghalaya border, Kalita said.
Police have launched a search operation in the forest to trace the body.
The four arrested are Bipon Biswas, Satyen Biswas, Ananda Biswas and Ranjan Biswas, police said.
Agarwal had several business including coal and stone crushers