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Additional sessions judge D S Deshmukh acquitted the men booked under sections 302 (murder) and 201 (causing disappearance of evidence) of the Indian Penal Code due to insufficient evidence.
The order passed on September 2 was made available on Sunday.
The prosecution alleged that the accused, Ganesh alias Ganya Nivrutti Rakhpasre (50), his brother Mangesh (42), Sahadev alias Sajya Vitthal Londe (34), and Badal Sadashiv Bodke (38) were involved in the killing of Ganesh alias Ganya Sukhdev Abhang.
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They later dumped him in an autorickshaw and took him to Kalwa railway station, where they left his body on a bench.
Defence counsel Sudhakar Parad argued that the evidence was insufficient and highlighted discrepancies in the investigation.
Judge Deshmukh noted that the prosecution had failed to provide adequate proof. As a result, the accused were given the benefit of the doubt and acquitted of all charges.