Damodharan, hailing from Chennimalai, was employed in a private firm, 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.
He was produced before a court, which remanded him to judicial custody, police said.
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