Paul, 32, was killed in the wee hours of Saturday on the Alappuzha-Changanachery route in south Kerala while he was traveling in a car along with some acquaintances. He was allegedly stabbed to death by 12 men traveling in an SUV.
His driver Shibu was traveling in another car while the victim drove a Ford Endeavour, said to be owned by an acquaintance. Shibu reportedly told the police that the three men Paul traveled with were unknown to him.
The state police have reportedly taken into custody two men traveling with Paul at the time of the incident.
A businessman, who was also traveling with Paul and who was injured in the attack, has been reportedly taken into custody as well. The police are trying to probe the connection between the businessman and Paul, who recently shifted to Kerala from Delhi.
The police claim Paul's murder was a result of a scuffle between the Muthoot scion and a group of 12 men traveling in a SUV.
According to the police version, an argument broke out between the passengers in the two cars after the SUV overtook the Ford Endeavour. The men in the SUV allegedly then stabbed Paul to death.
Paul, who was in charge of the group's hospitality business, was on a buying spree of high-value properties across Kerala.