Coimbatore, Dec 29: A 31-year old man, working for a private cash handling firm, was on Thursday arrested on charges of alleged misappropriation of Rs 23 lakh, police said. The money was meant for ATMs of different banks in Tirupur.
Damodharan, hailing from Chennimalai, was employed in a private firm,was entrusted with the job of depositing money in various ATMs in Coimbatore and Tirupur districts. The firm found that he had not deposited a total of about Rs 23 lakh, meant for ATMs of SBI and Indian Overseas Bank in Tirupur, and misappropriated it over a period of time in the past one month amid the cash scarcity post demonetisation.
On a complaint from the firm's local manager, Police investigated and arrested Damodharan. He was produced before a court, which remanded him to judicial custody, police said.