Five persons have been arrested for abetment to suicide, they said.
Shabir Ahmed Chopan allegedly had an argument with locals over a land in the Bismina village of the Warwan Valley and jumped into the river near Margi on Sunday, the police said.
Chopan hailed from Larnoo village in Anantnag district.
Acting on the information, a police rescue team rushed to the spot to recover the body.
A case has been registered against 16 people at Warwan police station under Section 306/34 (abetment to suicide) of the Indian Penal Code, the police said.
Five accused have been arrested in this connection, they said.
The Senior Superintendent of Police (Kishtwar) has ordered a special investigation, to be headed by the Subdivisional Police Officer (Marwah).
According to preliminary information, Chopan had a dispute over land with villagers of Bismina and the matter is sub-judice, the police said.