Massive Loan Fraud Uncovered in Andaman & Nicobar
A 50,000-page chargesheet has been filed in the ANSCBL loan scam scandal, naming 100 accused, including ex-Congress MP Kuldeep Rai Sharma. The investigation uncovered 23 shell companies and fraudulent loans worth Rs 316.5 crore. Several arrests have been made, and assets acquired with diverted funds are being identified and seized.
- Country:
- India
The Andaman and Nicobar Police's CID department has filed a hefty 50,000-page chargesheet, indicting 100 individuals and firms in a massive loan scam involving the Andaman and Nicobar State Cooperative Bank Limited (ANSCBL).
Among those accused is Kuldeep Rai Sharma, former Congress MP, and ex-chairman of ANSCBL. Eight arrests have been made so far, including key figures such as K Murugan and K Kalaivanan. The investigation revealed that 23 shell companies were exploited to fraudulently secure high-value loans.
A staggering Rs 316.5 crore was illegally diverted for personal gain, leading to the seizure of documents, electronic devices, and properties. The forensic audit involved examining over 200 witnesses, uncovering severe breaches of financial protocols and regulatory guidelines.
(With inputs from agencies.)
Google News