IVRCL plunges as NHAI consultant’s murder reports surfaces

MUMBAI: Shares of infrastructure company IVRCL were hammered down as reports of murder of Paulose Thomas, an expert consultant with National Highways Authority of India (NHAI) surfaced.

Thomas was entrusted to oversee construction quality of work on the four/ six-laning of NH 47, from Chengapalli near Coimbatore to Walayar on the Tamil Nadu-Kerala border being being undertaken by IVCRL Chengapalli Tollway Ltd.

According to reports, Thomas was found dead at his Coimbatore apartment over a month and half ago. What prima facie appeared to be a cardiac arrest or a suicide has now emerged as a case of murder on the basis of autopsy reports.

Even as there is no concrete proof of involvement of IVRCL in the case, investors were in no mood to hold on to the stock.

At 02:50 p.m.; the stock was at Rs 33.45, down 18.61 per cent on the NSE. It touched a high of Rs 41.45 and a low of Rs 31.75 in trade today.