Bipin Gulabchand Bafana (22), an engineering student residing at Ojhar in Nashik, was allegedly kidnapped for ransom on June 8 this year from city's Panchavati Karanja locality.
One of the accused, Padamini Choudhari, said to be a good friend of Bipin, had called him at Panchavati Karanja where she and three of her other friends kidnapped him.
On June 14, Bipin's body was found in an agricultural field at Vinchur Gawali area.
Police had arrested all the accused on June 15 and they were presently in judicial custody at Nashik Road central jail, police said.
The five accused in the case, on whom MCOCA has been slapped yesterday, are - Chetan Yashwant Pagare (25), Akshay alias Balya Suraj Sule (21), Sanjay Randhir Pawar (27), Aman Prakat Singh Jat (22) and Padamini Choudhari (23), police said, adding that Chetan and Aman had past criminal records.