Times of India reports that the depositors of Sri Pancha Aishwarya Multipurpose Souharda Cooperative Limited in Balepet Circle complained to the police that the director and other board members of the bank have cheated them of more than Rs 60 lakh.
The police registered an FIR against director Satheesha MA and others on October 16.
According to the police, account holders had been going to the head office of the bank to get back their money but they found the office always locked.