The discovery was made at Mohnish's farm house in Kharegaon area here by a security guard.
A police official said the body was highly decomposed. Doctors reportedly told police the baby was three or four days old.
"Mohnish rushed to his farm house and was extremely upset after he saw the body," the official said.
"He was present throughout the procedure. We are trying to figure out who dumped the body," the official added.