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The victim, Sumit Chaudhary alias Prem, also ran a tour and travel business and was attacked outside his house in Gamri Extension late on Wednesday night, they said.
Deputy Commissioner of Police (North East) Joy Tirkey said Chaudhary was sitting outside his house when he got into a spat with three-four men. The men attacked him with a knife and stabbed him multiple times in the face, neck, chest and abdomen.
Chaudhary was taken to JPC Hospital where doctors declared him brought dead. He was convicted in a case of attempt to murder and was out on bail, the DCP said.
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Chaudhary is survived by his wife and a three-year-old son.