Can chairman remove society secretary on fraud grounds

Before removing issue notice, and keep a record of his statement, and threaten to give police complaint, and demand for resignation first.  Then seek guidance of the Registrar of societies and insulate against all risks of attributing personal motives to you and explore all possibilities before taking serious action.

What is the type of society referred by you ?

Cooperative Society is a State subject which differ from a State to another State.

Vaugue information can not lead to form proper opinion and oblige

Certainly, the Chairman has no such authority. It is only the general body that has appointed the office bearers and the appointing authority alone has the authority for removal of an office bearer.

Moreover, the facts posted suggest that you  have a personal bias in the matter. propriety requires that you should not chair the meeting when the issue is taken up for discussion.

As already suggested, the best option is in initiating a criminal action.