Officers attended the scene at Burnside Court at 7.20am on Thursday, June 27 after being alerted to an assault.
There were also unconfirmed reports that a murder had taken place as a result of a stabbing.
On arrival officers found two men with serious injuries. Both were treated at the scene by paramedics but one of the men, named locally as James Baillie, later passed away.
Police arrested a third man following the incident but as yet no-one has appeared in court.
A Police Scotland spokesman said: “I can confirm no-one has appeared in court yet in connection with the incident and enquiries are very much ongoing.”
Anyone with information is asked to call 101.