Former CEO of Guru Raghavendra Bank found dead in his car outside Bengaluru home

Bengaluru : Vasudeva Maiya, former CEO of Sri Guru Raghavendra Co-operative Bank, has been found dead in his car outside his Bengaluru residence on July 6.

The investigations have started in the matter in which it has been claimed that he allegedly committed suicide.

The Reserve Bank of India (RBI) had in January imposed restrictions on Sri Guru Raghavendra Co-operative Bank and limited withdrawals to Rs 35,000 by customers.

On June 18, Anti-Corruption Bureau (ACB) raided five offices of Sri Guru Raghavendra Co-operative Bank, in relation to alleged misappropriation of Rs 1,400 crore.

The case of irregularities in finances is being investigated by RBI, Enforcement Directorate, Criminal Investigation Department, and Registrar of Cooperative Societies.

The police also conducted searches at residences of Maiya and the bank's chairman K Ramakrishna in relation to the above mentioned case, the NewsMinute reported.