Over Rs 500 cr in loans siphoned through more than 100 accounts: ED on Andaman Co-op Bank Scam
On July 30, a team of ED officers from Kolkata arrived in Port Blair and on July 31, they visited the ANSCBL office at Maulana Azad Road and Sharma's house at Junglighat in Port Blair and examined various people. They seized important data related to bank loan irregularity cases, an official said.They also searched houses and offices of a few Port Blair traders and businessmen and former employees of ANSCBL, including managing director K Murugan.On May 15, an FIR was lodged against Sharma in connection with the same irregularities.Apart from Sharma, others named in the FIR include the cooperative bank's former chairman, board members and directors/officials of the bank and several beneficiaries.On July 18, the Andaman and Nicobar Police CID arrested the ex-Congress MP in connection with the ANSCBL loan irregularities case. Sharma, who formerly served as the chairman of ANSCBL, was arrested from a private hospital in Port Blair, where he was admitted due to health issues.There are allegations that the bank's managing committee overlooked the recommendations of the loan screening committee and ignored the CIBIL report and mandatory documents while sanctioning loans, a police source said.Police had received a complaint from the deputy registrar of the cooperative societies (HQs), which alleged gross irregularities in sanctioning loans to various people by the lender.
Since June 25, eight people have been arrested in connection with the scam, including ANSCBL managing director K Murugan, bank employee Kalaivanan and six others. PTI
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