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ED raids 11 places in Kolkata, Port Blair in bank-fraud
The Enforcement Directorate (ED) just carried out a big raid across nine spots in Port Blair and two in Kolkata, digging into a suspected ₹200 crore fraud at the Andaman Nicobar State Cooperative Bank (ANSCB).
This all kicked off after police filed an FIR naming several private individuals and bank officials for shady financial dealings.
Investigators say ANSCB handed out huge loans
Investigators say ANSCB handed out huge loans—over ₹200 crore—to about 15 shell companies without following proper checks.
These companies were allegedly set up to benefit Kuldeep Rai Sharma, ex-MP and former Vice-Chairman of the bank.
Now, with serious questions swirling around banking practices in the region, ED is looking closely at everyone involved.