The entire incident was captured on CCTV cameras.
The accused Abhinav Sahni, 21-year-old first year undergraduate student of Khalsa College in Delhi University, was arrested a day later and released on bail.
An 18-year-old Delhi University student was arrested on Saturday for allegedly mowing down a pedestrian near Kirori Mal College and fleeing, The Times of India reported.
"The accused student, Abhinav Sahni was behind the wheels". He was accompanied by his friends.
The incident dates back to Wednesday when his speeding vehicle ran over a man crossing the road near Kirorimal College.
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Nath was flung several meters into the air.
In the video of the accident, Nath can be seen running while crossing the road.
Shiv Nath had died before he was taken to the hospital, Deputy Commissioner of Police (North) Jatin Narwal told Hindustan Times. The footage shows the auto stopping for a few seconds, before fleeing from the crime scene.
On the basis of the CCTV footage, the accused was identified and arrested on January 11. As he was inquiring about the accident, vagabonds at the spot started abusing and threatening him, following which he panicked and fled.