Two senior officials of the private mining company were shot dead by unidentified assailants at Chhotapahar in Pakur on Monday.
The ghastly killing took place when the two were taking a morning walk at about 5.30 am.
Though the police claim that it is a criminal activity and not a Naxal attack, sources in the local administration maintain that the killings are indeed by the Naxals.
Coal mines in the area have been paying 10 per cent of their turnover as protection money to the Naxals.
The incident comes close on the heels of the killing of a police inspector in Ranchi, a SBI Branch Manager in Palamau and an assistant engineer in Gumla.
Meanwhile, Naxals have also blown up railway tracks in Bokaro in Jharkhand. The tracks were blown up between Jarangdih and Bokaro Thermal station.
The Ranchi-Delhi railway line has been affected, and one long distance train, the Jharkhand Swarnajayanti Express (Delhi-Ranchi) is currently affected. Several local trains have also been affected due to the incident.
Naxals have also set ablaze three trucks and have damaged a bridge.
About 12 armed Maoists set fire to three trucks at around 1 am in Giridih's Isri area and cut down trees to block traffic on the Dumri-Giridih road.
In the neighbouring state of Bihar, the Naxals set a mobile phone tower on fire in Aurangabad.
Naxals have begun a two-day Jharkhand-Bihar shutdown to protest against the Centre's alleged effort to put down the CPI(Maoists) movement by force.