Laxman Yeram, the founder of a school at Umbre in Khalapur, was allegedly caught taking the money at Nerul branch of Abyuday Bank in Navi Mumbai last evening, Deputy Superintendent of Police Bhagwat Sonawane, Navi Mumbai branch of ACB's Thane unit said.
The accused had allegedly made a demand of Rs 10 lakh from the complainant to issue him an appointment order as a teacher, he said.
After negotiations on July 21, the school founder agreed for Rs eight lakh as bribe. The first instalment of Rs one lakh was to be paid to him by the complainant in the bank.
Offence under sections 7, 12, 13(1),(d) and 13(2) of the Prevention of Corruption Act have been registered against the accused with the local police station, the ACB added.