The deceased was identified as 70-year-old Devnarayan Rai, a resident of Jitwarpur village.
The injured were identified as Devnarayan's son Surendra Kumar Rai and ABVP student leader Mulayam Singh Yadav of Korbadha village.
Upon getting information, senior officers of the district reached the spot and started the investigation.
"During preliminary investigation, it came to the fore that land dispute could be the reason behind the crime," Mufassil police station SHO Pinki Prasad said.
"The incident is being investigated. A manhunt has been launched to arrest the accused," the SHO said.