Cuttack: The Commissionerate Police arrested a man on charges of murdering former principal of Kandarpur College Sudarshan Satpathy (77) on Sunday evening.
The accused has been identified as Arjuni Jena (35), a betel shop owner of Siddheswarpur village.
Cuttack DCP Prateek Singh said that the accused had taken a loan from Satpathy on the condition that he would repay the amount with interest.
The former principal saw Arjuni while returning home at Siddheswarpur after purchasing milk from a nearby market on Sunday evening. There was a heated exchange of words between them over the loan. Enraged, Arjuni attacked Satpathy with a sharp weapon and the latter fell down after sustaining deep wounds on his neck, the DCP said.
On being informed, a PCR team of Kandarpur police station rushed to the spot and admitted Satpathy to SCB Medical College and Hospital, where he succumbed to his injuries while undergoing treatment.
Police later arrested Arjuni from a campus of a school near Siddheswarpur and seized the murder weapon from his possession.