In a first-of-its-kind action, the Enforcement Directorate (ED) on Wednesday conducted search operations in the remote Andaman and Nicobar Islands as part of a probe into a massive Rs 200 crore bank fraud. This marks the central agency’s first-ever raid in the island territory.

The case involves the Andaman and Nicobar State Cooperative Bank (ANSCB), which is accused of giving out massive loans and overdraft facilities to shell companies by bypassing key banking norms. The ED suspects the money trail leads to former Member of Parliament, Kuldeep Rai Sharma, who also held the position of Vice-Chairman in the same bank.

Raids were carried out at nine locations in and around Port Blair, along with two more in Kolkata. During these searches, officials found several documents pointing to financial misconduct. The ED claims nearly 15 dummy companies were floated to illegally secure loans, a chunk of which was allegedly withdrawn in cash and possibly routed to Sharma.

The investigation took off after the local Crime and Economic Offences Wing filed an FIR naming private individuals and bank officials. The ED’s findings so far hint at serious misuse of power and conflict of interest, given Sharma’s dual role as both a politician and a bank office bearer

This operation not only puts the spotlight on financial wrongdoing in the picturesque archipelago but also signals that no place is too remote for financial scrutiny. The ED has said that the probe is ongoing, and more revelations may follow in the coming days.