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Police recovered the body of Budhia Nayak in a pool of blood and sent for post mortem today.
Accused Mela Nayak ran away from the village after the murder, police said.
"We suspect that he fled to nearby jungle with the knife, which was used in the murder. We are keeping vigil on his movement," sources said.
Before stabbing his father, Mela was suspected to have stoned him as there were several injury marks in the body.