Archive · 9 Jun 2025
Andaman Bank Loan Irregularities: Police Unearth Shell Companies
Imagine a bank that gave out loans.
Some of these loans might have been given out in a way that wasn't right, like maybe to companies that didn't really need them or couldn't pay them back.
The police are now looking into this.
They found some companies that seem suspicious and have frozen their bank accounts.
These companies are called 'shell companies', and they might have been used to hide something.
The police have also found some unpaid loans.
The bank's boss is telling everyone not to worry, that the bank is still safe.
The police are still asking questions to people to find out exactly what happened.
Police are investigating loan irregularities at the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL).
Several shell companies have been unearthed during the investigation.
The accounts of the shell companies have been frozen.
The CID has seized around 50 loan files and questioned over 40 people.
An FIR was lodged against the vice-chairman of the ANSCBL and others.
- Who
- Andaman and Nicobar Islands Police (CID), ANSCBL, shell companies and their directors, and former officials.
- What
- Investigation into alleged loan irregularities at Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL).
- When
- June 9 (based on the article date)
- Where
- Andaman and Nicobar Islands
- Why
- Due to alleged gross irregularities in granting loans.
- Bank
- ANSCBL
- Investigation by
- CID
- Shell Companies Found
- Yes
- Accounts Frozen
- Yes
- People Questioned
- Over 40
- Loan Files Seized
- Around 50