Two unidentified men attacked mataka king Mohan Parmanand Khatri, 55, also known as Pappu Chikki outside his Dhanguru Apartment house in Ulhasnagar on Thursday.
Khatri has been moved to a private hospital in Kalyan and his condition is said to be critical.
Chandrakant Deshmukh, inspector, Vithalwadi police station, said, "Khatri got a call from someone on his mobile phone asking him to come downstairs. As he went down, two men attacked him with a chopper."
The police have registered a case against two unidentified men.
According to his family, Khatri had a fight with Kanhaiyalal Keshwani over a table at a bar on Wednesday.
Keshwani and his son had threatened Khatri, saying they would take revenge.
Khatri has been involved in several crimes in the past, said the police.