Ex-CEO of Guru Raghavendra Co-Op leaves behind death note

The former CEO of the crisis-hit Sri Guru Raghavendra Co-Operative Bank, who killed himself on Monday late evening, has left behind a five-page death note – very crucial evidence in the case.

Sources said Manur Vasudeva Maiya has in the note explained in detail about the fraud happened in the bank and that he ended his life over depression due to recent developments, including the investigation by the Anti-Corruption Bureau (ACB) and Criminal Investigation Department (CID).

Meanwhile, Deputy Commissioner of Police (South) Rohini Katoch Sepat said the details of the note cannot be disclosed at this stage of the investigation.

“Maiya’s elder daughter is giving her statement based on the death note and about the incident of her father killing himself. Once her statement is made, we will further probe by taking up a case under necessary IPC sections. As of now, we have taken up the case of unnatural death,” Sepat said.

As it happened

On Monday, Maiya after meeting some of his friends, around 7.30 pm, parked his car on the roadside near his house and got into the back seat and consumed liquor laced with poison.

Around 9.00 pm, someone who saw a person unconscious in the car alerted the police. Those who knew him identified him. A mechanic opened the door of the car. When the car was searched in the presence of the forensic officials, a death note, a poison bottle and a liquor bottle were found next to his body.

The bank had run into trouble on January 14 after the Reserve Bank of India (RBI) imposed restrictions and limited withdrawals to Rs 35,000 by customers, which was now increased to Rs 1 lakh.

The RBI had found the bank evergreening its loans. While the Urban Co-operative Bank (UCB) was reporting non performing assets (NPA) ratio of just 1%, the RBI had found actual NPAs worth Rs 372 crore (32.4%) of the loan book.

Hopes dashed

Meanwhile, Maiya’s death has dashed the hopes of the bank’s customers.

“This will only go downhill from now. At least there was one small hope. Well, whatever secrets he knew is now dead with him,” a customer of the bank told DH.

Meanwhile, the bank’s head office at Nettakallappa Circle has been shut after a visitor tested positive for Covid. “We have closed the head office and Basavanagudi branch for sanitisation and sealed down. All our other branches function from 10 am to 6 pm,” the notice outside the office said.