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The deceased identified as Dr Suryanarayan, a native of Bengaluru was employed at a private hospital in Manipal.
His friends Sangeet, hailing from Kerala, and Divit Singh of Uttar Pradesh escaped with minor injuries.
The mishap took place when the group was returning home after having dinner. The car driver lost control of the vehicle at the turn near a hotel here and toppled after hitting the divider.
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A case has been registered at Manipal Police Station.