Loan Scam Unveiled: Arrests Made in Andaman Cooperative Bank Case
Three individuals have been arrested in relation to loan sanctioning irregularities at the Andaman and Nicobar State Cooperative Bank. The investigation has linked several senior officials and uncovered suspicious transactions, pointing to a wider banking scam. Further probes have been initiated to explore various angles of the case.
- Country:
- India
In a significant development, three people were taken into custody on Wednesday night for alleged irregular activities linked to loan sanctioning at a cooperative bank in the Andaman and Nicobar Islands.
The arrests stem from suspicious transactions made through the bank accounts of the accused over several years. Interrogations revealed the involvement of senior officials from the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL). Supporting documents have been seized, and a comprehensive inquiry is ongoing.
An FIR was lodged on May 15 against ANSCBL's vice chairman and past Congress MP, Kuldeep Rai Sharma, for reportedly sanctioning substantial loans under questionable conditions. Further investigations have unearthed financial trails connecting various individuals, including a driver, a tea stall owner, and a mechanic, all linked to the scam. Several senior bank figures and beneficiaries are named in the continuing investigation.
(With inputs from agencies.)
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- loan
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- Andaman
- Nicobar
- cooperative
- bank
- irregularities
- investigation
- sanctioning
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