Ex-Andaman MP among three held in bank loan fraud case
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Summary
The Enforcement Directorate arrested former Andaman MP Kuldeep Rai Sharma along with two bank officials - K Murugan and K Kalaivanan - for a major bank loan fraud at Andaman Nicobar State Cooperative ...
Key Details
Published
18 September 2025 at 04:00 am
Source
Hindustan Times
Channel
NA
Victim Profile
NA
State
Andaman and Nicobar Islands
City
Port Blair
Amount Loss Range
> ₹10000000
Fraud Keywords
bank loan fraudshell companiescooperative bank scamdummy loan accountsloan diversionprocedural violationsfraudulent loan sanctioningcash kickbacksmoney launderingshell entities
Tags
Digital Footprint
Kuldeep Rai Sharma (former MP and bank chairman)K Murugan (managing director of ANSCB)K Kalaivanan (loan officer)Andaman Nicobar State Cooperative Bank (ANSCBL)5% commission on fraudulent loansOver 100 fraudulent loan accounts₹500 crore total fraud amount₹230 crore benefiting Sharma and associatesCrime and Economic Offences Cell, Andaman and Nicobar Police (FIR filed)ED Kolkata Zonal office