The conductor had been admitted to a government hospital with injuries in the thigh suffered in the knife attack, they said.
The constable boarded the state-run transport corporation bus in Palani and took a ticket upto Ukkadam, on the city outskirts.
As he did not alight at Ukkadam, the conductor told him to buy a Rs seven ticket to travel till the city bus stand, the final destination, leading to a heated argument between them.
The constable suddenly took out a knife and stabbed the conductor, police said.
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