Udupi : The Chairman of the Kamalakshi Co-operative Bank arrested on the charges of cheating hundreds of depositors of crores of rupees has been produced before the Udupi JMFC court and remanded to judicial custody till January 11.

The arrested is B V Laxminarayana Upadhyaya Chairman of the Kamalakshi Co-operative Bank.

He is facing charges of cheating nearly 600 depositors of Rs 93 crores. Laxminarayana who was absconding ever since the cheating came to light, ws arrested from Brahmavar.