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The deceased have been identified as Ramesh Krishnappa (30), Prabhavati Chikkegouda (30) and Vinay Venkataramanappa (39), residents of Bengaluru, and Meena alias Meenakshi (30), a resident of Doddaballapur, near Bengaluru.
The accident is said to have taken place when the tanker driver in a bid to overtake another vehicle collided head-on into the car coming from the opposite direction.
A case has been registered with Ankola police.