The Enforcement Directorate initiated an investigation in the case on the basis of an FIR registered by Crime and Economic Offences, Andaman & Nicobar Police, against various private persons and officials of the bank. File
| Photo Credit: Reuters
The Enforcement Directorate (ED) on Thursday (July 31, 2025) conducted its first-ever search operation in the Andaman & Nicobar Islands in connection with the Andaman Nicobar State Cooperative Bank (ANSCB) “fraud” case.
“Searches are being conducted at nine places in and around Port Blair and two places in Kolkata,” said an official.
During the searches in Port Blair, the agency has seized documents purportedly indicating large-scale irregularities in the grant of loans and overdraft facilities by ANSC Bank. The evidence collected so far shows that “loan facilities were extended to various shell companies/firms by ignoring the laid-down procedures and guidelines of the bank”.
Also read | Andaman cooperative bank scam: Former Congress MP Kuldeep Sharma arrested
“Searches have also revealed that a group of around 15 entities/companies were created by suspects for the benefit of Kuldeep Rai Sharma, former MP of Andaman & Nicobar Islands, and loan facilities amounting to more than ₹200 crore were fraudulently taken by these entities from the ANSC Bank,” as per the agency.
As alleged, a substantial portion of the loans were withdrawn in cash and paid to the beneficiaries, including Mr Sharma. “It is worth mentioning here that Shri Kuldeep Rai Sharma, ex-MP is also the Vice-Chairman of the Andaman Nicobar State Cooperative Bank,” the official said.
The ED initiated an investigation in the case on the basis of an FIR registered by Crime and Economic Offences, Andaman & Nicobar Police, against various private persons and officials of the bank.
Published – July 31, 2025 12:16 pm IST
