Bank Fraud Investigation: Former MP Kuldeep Rai Sharma's Arrest Deepens
Former Congress MP Kuldeep Rai Sharma has been remanded to police custody in connection with alleged irregularities at Andaman and Nicobar State Cooperative Bank Ltd. Arrested by the CID, Sharma's bail plea was rejected as part of an ongoing investigation into loan sanctioning misconduct linked with former board members and directors.
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In a significant development, former Congress MP Kuldeep Rai Sharma, embroiled in a bank fraud controversy, was ordered into three days of police custody by the Port Blair court on Tuesday.
Sharma, who had been in judicial custody since his July arrest by the CID, faces charges related to financial irregularities at Andaman and Nicobar State Cooperative Bank Ltd, where he served as chairman.
The investigation into the bank's activities, including the circumvention of loan sanction procedures, has now seen a total of eight arrests, with central accusations pointing towards misconduct by the bank's former board members and directors.
(With inputs from agencies.)
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