FIR lodged against ex-Cong MP & vice chairman of ANSCBL for 'irregularities' in sanctioning loans

An FIR has been lodged against vice chairman of Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL) and former Congress MP Kuldeep Rai Sharma in connection with alleged gross irregularities in sanctioning huge amounts of loans to various people, a police officer said on Friday. Those named in the FIR include former chairman of ANSCB late Bhagat Singh, vice chairman Kuldeep Rai Sharma, board and directors/officials of ANSCB and other beneficiaries, the officer said.

SSP (CID) Jitendra Kumar Meena told PTI, "We have received a complaint from the deputy registrar of cooperative societies (HQ) regarding gross irregularities in sanctioning loans to various people by the Andaman and Nicobar State Cooperative Bank. Based on the content of the complaint, we have lodged an FIR (dated May 15). Further investigation is in progress."

There are allegations that the managing committee of the ANSCB overlooked the recommendations of the loan screening committee and ignored the CIBIL report and mandatory documents while sanctioning loans, a police source said.


In some cases, there are also allegations that an unsigned site verification report was submitted by the branch manager during the loan disbursement process to some of the beneficiaries.

There are also allegations that loans were disbursed to some unfit applicants without following the banking norms.

A police team has been constituted to investigate and they are going through all the documents (including technical aspects) related to loans sanctioned to unfit applicants, the officer said.

"It seems that the irregularities in sanctioning loans have been going on for the last few years. We will file a charge sheet once the investigation is over," the officer added.