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The body was found by the college’s security staff at around 8 a m, they said.
Items such as a charred tyre and a petrol can were found at the scene, they said.
According to police, it could be a case of suicide.
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Police said that a DNA examination will be necessary to confirm the identity of the deceased.
Reports indicate that the mobile phone had been placed on a chair, possibly to record the incident.
State Food and Civil Supplies Minister G R Anil visited the location.
A scientific investigation is currently underway to gather further evidence, they added.