Kota: A 28-year-old recovery agent of a private finance company was hacked to death and allegedly robbed of Rs 40,000 in Rajasthan's Baran, police said on Wednesday.

The police identified the victim as Buddhiprakash Soni. His body was recovered from a ditch near a canal on Tuesday afternoon after his family lodged a missing report complaint at the Baran Sadar police station.

According to police, Soni's family had informed them that he did not return home on Monday night and his mobile phone was also switched off, Deputy Superintendent of Police, Baran, Omendra Singh said.

During the investigation, the police found that he was returning home after collecting the recovery amount and had Rs 40,000 in his bag, Singh said.

The accused allegedly knew about the money and in a bid to steal it, they slit his throat with a sharp weapon, dumped his body near a ditch and fled with the bag, he said.

Following this, the police launched an extensive investigation and detained three people in connection with the case. Further investigation is underway, he added.