ED Attaches 40 Assets Worth Rs 121.35 Crore in Andaman Bank Scam

The Enforcement Directorate has attached 40 assets worth Rs 121.35 crore in a cooperative bank scam in the Andaman and Nicobar Islands. The agency said the case involves an alleged scam of about Rs 500 crore. The attached assets include a hotel, land, bank deposits and two semi-submarine tourist vessels imported from Croatia. The ED said it issued a provisional attachment order on November 5 under the Prevention of Money Laundering Act. It filed a fresh chargesheet before a special court in Port Blair on November 6. Former MP and Congress leader Kuldeep Rai Sharma is among the accused, the agency said The ED alleges that he worked with bank officials and associates to secure loans through shell companies and misuse the funds.