Loan Scandal Unfolds: Former MP Kuldeep Rai Sharma Under CID Scrutiny
Former Congress MP Kuldeep Rai Sharma is under investigation by the CID for alleged irregularities in loan sanctions by a state cooperative bank. The CID has seized Sharma's passport and key loan documents. A forensic audit is being sought to investigate potential fund misuse in the sanctioning process.
- Country:
- India
In a significant development unfolding in the Andaman and Nicobar Islands, Kuldeep Rai Sharma, a former Congress MP, finds himself embroiled in legal scrutiny regarding alleged loan sanctioning irregularities. The state's CID has launched an investigation, seizing Sharma's passport as they delve deeper into the scandal, officials confirmed on Sunday.
Sources reveal that Sharma, vice-chairman of the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL), faces an FIR linked to suspicious financial activities. The investigation entails seizing original loan documents from 65 individuals and firms, including prominent figures and their relatives. This move seeks to illuminate any financial misconduct within the bank.
Alarm bells have been ringing about considerable withdrawals made within a short timeframe. Such activities have raised concerns of potential fund diversion or misuse. Police indicate further inquiries will include a forensic audit to meticulously track financial flows from these loans, promising significant revelations in the coming days.
(With inputs from agencies.)
Google News