Tarun Karthick
Sri Vijaya Puram, 08 November 2025
The Chief Judicial Magistrate (CJM) Court, Sri Vijaya Puram, on November 6, granted bail to former Member of Parliament Mr. Kuldeep Rai Sharma in connection with the Andaman and Nicobar State Cooperative Bank Limited (ANSCBL) loan irregularities case registered at the Police Station Crime and Economic Offences (PS C&EO). However, despite securing bail in this case, Mr. Sharma will continue to remain in judicial custody in connection with a separate case filed by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act (PMLA), 2002.
Mr. Sharma, the former Vice Chairperson of ANSCB Ltd., was arrested on July 18, 2025, from Dr. Ritika’s Diagnostic Solutions Multi-Speciality Hospital in Garacharma, Sri Vijaya Puram, where he was undergoing treatment. His arrest followed a complaint lodged by the Deputy Registrar of Cooperative Societies (Headquarters), alleging serious irregularities in the sanctioning of loans by ANSCBL. Acting on this complaint, the PS Crime and Economic Offence of the Andaman and Nicobar Police registered FIR No. 00014/2025 on May 15, 2025.
Subsequently, on September 17, 2025, the Directorate of Enforcement arrested Mr. Sharma in connection with the same matter under the provisions of the PMLA, 2002, while he was already in judicial custody in connection with the PS C&EO case.
Alongside Mr. Sharma, the ED also arrested Mr. K. Murugan, Managing Director of ANSCBL, and Mr. K. Kalaivanan, Loan Officer of ANSCBL, on September 17, 2025, while they were also in custody in the PS C&EO case. Sources confirmed that both Mr. Murugan and Mr. Kalaivanan have been granted bail in the PS C&EO case; however, they too continue to remain in judicial custody in connection with the ED case.
Another accused, Mr. Sanjay Lall, a businessman from Sri Vijaya Puram, was arrested by the ED on October 22, 2025, in connection with the same investigation. Mr. Sharma, Mr. Murugan, Mr. Kalaivanan, and Mr. Lall are presently in judicial custody, with their next production before the court scheduled for November 14, 2025. On the same day, the Hon’ble District and Sessions Judge Court is also expected to hear a petition filed by the Enforcement Directorate seeking custody of Mr. Murugan.
Earlier, another businessman, Mr. M. Sajid, became the first accused to secure bail in the PS C&EO case after the Circuit Bench of the Hon’ble Calcutta High Court at Port Blair granted his plea.
Meanwhile, national media outlets have reported that several others — including Mr. Tarun Mondal, Director of Blair Enterprises Pvt. Ltd.; Mr. Bablu Halder, Director of Andaman Mormon Infrastructure Pvt. Ltd.; Mr. Ajay Minz, Director of Andaman Treepie Adventure Pvt. Ltd.; and Mr. K. Subramanian, former Director of ANSCBL — have also been granted bail by the CJM Court. However, Nicobar Times could not independently verify these reports, as multiple attempts to access the official bail orders from the CJM Court were unsuccessful.
While the bail order in the PS C&EO case offers partial relief to Mr. Sharma, his release remains contingent upon securing bail in the Enforcement Directorate’s money laundering case. For now, the former MP continues to remain in judicial custody as proceedings in both matters progress.
