Raju Soni was attacked with sharp-edged objects at about 4.00 am when he stepped out of his house in Sangamnagar area to fill water from the taps, police said.
Raju ran a video-parlour and the five assailants tried to extort money from him and threatened him with causing disruption in running of the parlour if he did not pay the money, said police at Wadala truck terminal police station.
However, Raju did not take their threats seriously, police said. Niyaz Hussain, Firoj Idrisi, Naseem Khan, Ibbu and Hafizul Bangali are wanted in the case, police said. Raju's family members claimed he was killed as he stood against illegal slums surfacing in the area but police claimed there is no truth in this.