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Court grants bail to seven in Rs 500-cr Andaman cooperative bank scam
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....ourt grants bail to seven in Rs 500-cr Andaman cooperative bank scam<BR>PMLA / Black Money<BR>Dated:- 7-11-2025<BR>PTI<BR>Port Blair, Nov 7 (PTI) The Chief Judicial Magistrate’s Court here has granted bail to seven persons arrested in connection with the alleged loan irregularities at the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL), officials said on Friday. Those granted bail are M....
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..... Sajid, owner of M/s Andaman Escapades; Tarun Mondal, director of Blair Enterprises Pvt Ltd; Bablu Halder, director of Andaman Mormon Infrastructure Pvt Ltd; Ajay Minz, director of Andaman Treepie Adventure Pvt Ltd; K. Subramanian, former ANSCBL director; former chairman of the bank and sitting MP Kuldeep Rai Sharma; former managing director K. Murugan; bank employee Kalaivanan; and businessman S....
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....anjay Lal. A senior police officer said, "Kuldeep Rai Sharma, Kalaivanan and Murugan will continue to remain in judicial custody as they are yet to obtain bail in the Enforcement Directorate (ED) case. Apart from them, Sanjay Lal is also presently in judicial custody following his arrest by the ED." The arrests stemmed from an FIR lodged on May 15 by the Crime and Economic Offences Cell of the A....
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....ndaman and Nicobar Police, based on a complaint from the deputy registrar of cooperative societies alleging large-scale loan irregularities. On July 18, the Crime and Economic Offences Cell (Andaman Police) arrested Sharma (former chairman of the ANSCBL) in connection with the loan irregularities case. The arrest was made following a complaint from the deputy registrar of the cooperative societi....
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....es (HQ), which alleged gross irregularities in sanctioning loans to various people by the lender. Later, ED has also started a parallel investigation. On July 31, they conducted their first search operation ever at the Andaman and Nicobar Islands. Over the past few weeks, the ED has summoned more than 10 people to Kolkata for questioning. ED's probe has revealed a wide-ranging conspiracy in whi....
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....ch loans worth over Rs 500 crore were sanctioned fraudulently through more than 100 accounts opened in the names of shell companies and firms. According to ED findings, around Rs 230 crore was allegedly siphoned off for the exclusive benefit of Sharma and his close associates, including the MD and loan officer of ANSCBL. "The officials not only sanctioned loans in blatant violation of banking no....
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....rms but also facilitated multiple loans for associates in exchange for a 5 per cent commission, routed either through cash or shell company accounts," a statement issued by the ED had said. PTI SN MNB<BR> News - Press release - PIB....