The police had already retrieved the body of his colleague Sudhir on Saturday from the same river.
The families of both victims have not suspected any foul play so far.
Talwar SHO Kashmir Singh said that inquest proceedings under section 174 of IPC had been initiated.
Police had to take the services of the fire brigade to extricate Madan Lal’s body which had floated far away from the banks.
A post mortem would be conducted on Monday.