https://www.taxtmi.com/news?id=71030 The Enforcement Directorate, by a provisional order under the Prevention of Money Laundering Act, attached 51 immovable properties worth Rs 200.02 crore allegedly derived from a Rs 500 crore fraud at the Andaman and Nicobar State Cooperative Bank; assets are held in names of accused persons, relatives, associates and controlled firms. The ED alleges use of 23 shell companies, dummy directors and powers of attorney to conceal consideration and that over 100 high-value loans were sanctioned in violation of NABARD, RBI and internal bank directives; a chargesheet against 39 entities was filed in November 2025. en-us Fri, 13 Feb 2026 18:16:05 +0530 Fri, 13 Feb 2026 18:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71030 The Enforcement Directorate, by a provisional order under the Prevention of Money Laundering Act, attached 51 immovable properties worth Rs 200.02 crore allegedly derived from a Rs 500 crore fraud at the Andaman and Nicobar State Cooperative Bank; assets are held in names of accused persons, relatives, associates and controlled firms. The ED alleges use of 23 shell companies, dummy directors and powers of attorney to conceal consideration and that over 100 high-value loans were sanctioned in violation of NABARD, RBI and internal bank directives; a chargesheet against 39 entities was filed in November 2025. News - Fri, 13 Feb 2026 18:16:05 +0530 https://www.taxtmi.com/news?id=71030