The St. Thomas Mount police arrested an employee of a container company in the Guindy industrial estate on charges of misappropriation of funds.
Police said the accused, R. Prabagaran (39), a native of Aarappalayam near Madurai, set out to a bank branch in Guindy on Friday last week to deposit Rs. 8.20 lakh.
The sum was to be given to staff members as festival bonus.
However, Prabagaran did not deposit the money and went missing. The police nabbed him near Koyambedu on Thursday night and recovered Rs. 7.49 lakh from him. Prabagaran was lodged in the Puzhal prison after being produced at a court in Alandur.