NEW DELHI: The ED has attached several hotels, resorts and land worth over Rs 200 crore in Andaman and Nicobar in a money laundering case, probing allegations of misappropriation of over Rs 500 crore in Andaman & Nicobar State Cooperative Bank.Former Congress MP Kuldeep Rai Sharma, who was arrested earlier and whose bail plea was rejected by Calcutta HC, is one of the accused in the case along with 38 others, including family members, bank officials and close associates.“Investigation revealed Sharma, the then vice-chairman of the bank, had, in collusion with his accomplices, floated and operated 23 shell companies and a large number of other entities for the purpose of fraudulently availing loans from the bank,” ED said on Friday. The agency’s attachment order of Feb 10 has listed 51 properties attached in the case under PMLA.It said fraudulent loans and overdraft of over Rs 300 crore were sanctioned in the names of 21 shell companies, of which loans of 18 shell companies amounting to Rs 271 crore turned non-performing assets.“In total, over 100 high-value loans were sanctioned to these entities deliberately in gross violation of Nabard guidelines, RBI directions and internal circulars of the cooperative bank,” the agency said.The 51 properties attached by the agency derived from the alleged proceeds of the crime, are in the names of the accused persons, their family members, close associates and companies/firms controlled by them, ED said. End of ArticleFollow Us On Social MediaVideosPM Modi Says India Pushes Reforms With Conviction, Not Compulsion; Poised To Drive Global Growth’Symbols Of British Empire’: PM Modi On North & South Block In 1st Address From Seva Teerth’Umar Bhar Yahi Bhool’: Yogi Adityanath Quotes Mirza Ghalib In UP Assembly To Target SP’s RecordBNP Demands Sheikh Hasina’s Extradition From India After Bangladesh Poll WinCongress Demands Union Minister Hardeep Puri Resignation Over Alleged Jeffrey Epstein Links RowPM Modi Speaks To BNP Chief Tarique Rahman, Congratulates On ‘Remarkable’ Bangladesh Poll Win6-Year-Old Dead, 5 Injured As Speeding Car Hits Pedestrians On Busy Lucknow Road; CCTV Shows HorrorKiren Rijiju Explains Why Modi Govt Paused Privilege Notice Against Rahul Gandhi After Dubey’s MoveTarique Rahman’s BNP Heads For Landslide In Bangladesh Election, Rivals Cry FoulPM Modi Unveils Seva Teerth, A New PMO Hub Marking Governance Shift In National Capital Delhi123PhotostoriesTop 5 real estate hotspots in Noida to watch in 2026Exclusive: Krushna Abhishek reacts to Sunita Ahuja’s allegations against mama Govinda, talks about Laughter Chefs 3’s success and working on The Great Indian Kapil ShowGalentine’s Day special: Iconic female friendships in Bollywood that define sisterhood6 Vastu mistakes that are silently blocking wealth in your home (don’t ignore number 4)5 national parks in India that are excellent for birdwatchingLove, in different landscapes: Hills, islands and desert skiesSeva Teerth opens doors: PM Modi launches new PMO complex in New Delhi – see picsAbs don’t equal healthy arteries: Doctor explains why appearance isn’t a health report card5 key features that make adventure bikes perfect for long-distance touring5 ways to remove pesticides from grapes and strawberries, tips for storage, and easy dishes123Hot PicksIT Stocks CrashGold Silver PricesBangladesh Election ResultsTelangana Municipal Elections ResultsIncome Tax CalculatorPublic holidays February 2026Bank Holidays februaryTop TrendingPatrick MahomesBad BunnyJosh MorrisseyJutta LeerdamAuston MatthewsKayla NicoleAnthony JoshuaChris PaulDarron LeeKyle Busch Net Worth
NEW DELHI: The ED has attached several hotels, resorts and land worth over Rs 200 crore in Andaman and Nicobar in a money laundering case, probing allegations of misappropriation of over Rs 500 crore in Andaman & Nicobar State Cooperative Bank.Former Congress MP Kuldeep Rai Sharma, who was arrested earlier and whose bail plea was rejected by Calcutta HC, is one of the accused in the case along with 38 others, including family members, bank officials and close associates.“Investigation revealed Sharma, the then vice-chairman of the bank, had, in collusion with his accomplices, floated and operated 23 shell companies and a large number of other entities for the purpose of fraudulently availing loans from the bank,” ED said on Friday. The agency’s attachment order of Feb 10 has listed 51 properties attached in the case under PMLA.It said fraudulent loans and overdraft of over Rs 300 crore were sanctioned in the names of 21 shell companies, of which loans of 18 shell companies amounting to Rs 271 crore turned non-performing assets.“In total, over 100 high-value loans were sanctioned to these entities deliberately in gross violation of Nabard guidelines, RBI directions and internal circulars of the cooperative bank,” the agency said.The 51 properties attached by the agency derived from the alleged proceeds of the crime, are in the names of the accused persons, their family members, close associates and companies/firms controlled by them, ED said.
