Mutiny broke out on Wednesday inside the headquarters of the Bangladesh Rifles (BDR) where more than 160 officers were located.
More than 2,000 BDR guards opened fired in the headquarters of where the officers were located at said Guardian news.
Eighty eight bodies have been recovered from mass graves in the outskirts of Dhaka. At least 22 bodies have also been recovered from the Buriganga River.
The mutiny occurred when BDR members took dozens of their superiors hostage because their superiors dismissed their appeals for more pay, subsidized food and opportunities to participate in U.N. peacekeeping operations said CNN.
Security forces have set up highway check points and are searching the area for the guards who were involves in the rebel and mutiny.