A 31-year-old youth was arrested for allegedly misappropriating Rs. 23 lakhs meant to be deposited in various ATMs in Tirupur over a period of one month.

According to police, Damodharan, hailing from Chennimalai, was working in a private firm, which was entrusted to deposit money in various ATMs in Coimbatore and Tirupur districts.

As the firm found that about Rs.23 lakhs, meant for ATMs of SBI and Indian Overseas Bank in Kangeyam and Vellakoil, missing, the local manager, Rangarajan lodged a complaint with Tirupur SP.

Investigation led to the arrest of Damodharan, who was produced before the court, that remanded him to judicial custody. He was lodged in the Central jail.