In a significant development, the CID arrested former Congress MP Kuldeep Rai Sharma on Friday in connection with the loan irregularities at the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL), police officials stated. Sharma, who previously served as the chairman of ANSCBL, was taken into custody from a private hospital in Port Blair where he was being treated for health issues.
A senior police officer mentioned that Sharma was admitted to Dr. Ritika’s Diagnostic Solutions Multi-Speciality Hospital. When medical personnel was alerted, a team of officers, including senior officials, went to the hospital and arrested him. The police indicated that further legal proceedings would be decided by the court, and if needed, a medical board might review Sharma’s health condition.
An FIR had already been filed against Sharma on May 15 regarding the same irregularities. During the ongoing investigation, authorities uncovered suspicious financial transactions involving a bank driver (employed by one of the accused in the loan scam), a tea stall owner in Chouldari, and a mechanic.
Besides Sharma, other individuals named in the FIR include ex-chairman of the bank, board members, officials, and several beneficiaries. There are allegations that the bank’s managing committee approved loans despite ignoring recommendations from the loan screening committee, bypassing the CIBIL report, and neglecting mandatory documentation.
The police received a complaint from the deputy registrar of cooperative societies (HQ), accusing the bank of gross irregularities in loan approval processes. Since June 25, eight people have been arrested in connection with the case, including ANSCBL managing director K. Murugan, employee Kalaivanan, and several other directors and beneficiaries, such as Bablu Halder, Tarun Mondal, Ajay Minz, K. Subramanian, and M. Sajid.