Bengaluru: The former CEO of Sri Guru Raghavendra Co-operative Bank Ltd, Manoor Vasudeva Maiya popularly was found dead inside his car in Bengaluru on July 6. The car was parked by the road side in Subramanyapura area, which is located at some distance from his Chikkalasandra residence, reports said.
Sri Guru Raghavendra Co-operative Bank has been in troubled waters over alleged irregularities of Rs 1400 crore. Maiya popularly, better known as MV Maiya was the business head at the bank. He was the architect of the co-op Bank and had built the business “brick by brick”, his profile read on the bank’s website. “Under his dynamic leadership, the Bank has been recognized with the following awards and individual recognitions which boost the morale of the teammates to deliver further with lot more achievements,” the profile read.
Reports suggest that his death could be a case of suicide. The police were waiting forensic teams before the body could be retrieved from the car. On January 14, RBI had imposed restrictions the bank and had limited withdrawals to Rs 35,000 by customers.
A probe had indicated irregularities worth Rs 1400 crore at the Bengaluru-bank, which included diversion of deposits and disbursal of loans worth Rs 150 crore to 60 fictitious customers. Probe had also revealed that the bank reported NPAs at around 1 percent, while it was actually around 30 percent.