Jamshedpur, Nov 2: Armed assailants gunned down one of the owners of renowned shoe company Sree Leathers at Sakchi area here today.
Police said Ashish Dey(45) was going to his showroom this morning when two armed miscreants on a two-wheeler opened fire from close range and fled from the scene.
The trader was severely wounded and rushed to Tata Main Hospital.
At the hospital he was declared brought dead.
Police said personal rivalry over payment of ransom might be the reason of Mr Deys's killing.
Meanwhile, a spontaneous bandh was being observed at Sakchi market following the incident. Shopkeepers downed their shutters and the roads in the area wore a deserted look.
The Deys are four brothers, and Ashis Dey, the youngest, was looking after the business in Jharkhand. Sree Leathers is a Rs 100 crore comany.
Meanwhile, reports from Kolkata added that his elder brother Satyabrata Dey was rushing for Jamshedpur.
Unconfirmed reports added that Ashis Dey was under pressure from extortionists for coughing up a huge amount of money.