ED names 14 more accused in Andaman co-operative bank case, seeks confiscation
The Enforcement Directorate has filed a supplementary prosecution complaint against 14 more persons and entities in its Andaman & Nicobar State Co-operative Bank case, taking the accused to 52.
Key points
- The ED filed a supplementary prosecution complaint on 6 November 2026 before the Special Court under the PMLA in Port Blair in the ANSCBL case.
- The complaint adds 14 persons and entities, taking the accused to 52, and seeks confiscation of assets worth about Rs 326.91 crore, the ED said.
- The charges are the ED's allegations and will be tested at trial; the accused are presumed innocent until proven guilty.
The Enforcement Directorate (ED) has filed a supplementary prosecution complaint against 14 more persons and entities in its money-laundering case linked to loans of the Andaman & Nicobar State Co-operative Bank (ANSCBL). The complaint was filed on 6 November 2026 before the Special Court under the Prevention of Money Laundering Act (PMLA) in Port Blair. With it, the number of accused in the case has risen to 52, the ED said on 11 November 2026.
What Happened
The ED's case is based on an FIR registered by the Crime & Economic Offences Police Station of the Andaman & Nicobar Police against private persons and bank officials. A prosecution complaint is the ED's charge sheet in a money-laundering case. Those newly named as accused include the bank's then vice-chairman, an empanelled property valuer of the bank and several other persons along with their companies.
According to the ED, bank officials and their associates floated 23 shell companies and sanctioned large loans to them and to other entities in breach of the bank's rules. The ED alleges that about Rs 301.50 crore was lent to 21 shell companies alone, of which about Rs 271 crore has turned into non-performing assets (loans not being repaid), and it puts the total proceeds of crime at more than Rs 500 crore. The ED has alleged that cheap land was pledged at values inflated many times over, and that loans to some active companies were given in return for a commission of about 5% of the loan amount.
The ED had earlier arrested four people and filed a prosecution complaint against 39 persons and entities on 14 November 2025. It has attached assets worth about Rs 326.91 crore through orders dated 10 February 2026 (Rs 205.56 crore, confirmed by the Adjudicating Authority) and 5 November 2026 (Rs 121.35 crore), and has sought their confiscation in the new complaint.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
What It Means
The Special Court will now take up the supplementary complaint. Any confiscation of the attached assets depends on the court's decision. Depositors with complaints about a bank's service can use the RBI's portal at https://cms.rbi.org.in.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
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Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate