The police have registered a case against four people, including a former Congress councillor, for the attack.
The incident took place late on Sunday night after the victim, Charant Garg and wife Pooja, left their house.
They were followed by four people in another car who intercepted Garg's car near the Sardar Basti locality. They were shot dead from point blank range, police said.
Both victims were shot in the head.
The police have booked four people: Jaidev, Rakesh Sharma, Pradeep Sharma and former councillor Pompy.
The police believe that the reason behind the double murder is a dispute over money which the attackers owned to Garg.
A realtor by profession, Garg was considered close to senior Akali Dal leaders Sukhdev Singh Dhindsa (a former Union Minister) and Parminder Singh Dhindsa (a former Finance Minister in Punjab).
Akali Dal leaders blamed the ruling Congress for the growing lawlessness in the state.
The police said Garg bore injury marks on his body which indicated that he was assaulted before being shot dead.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
