India


Court denies bail to ex-Andaman MP, others in Rs 500 crore fraud case

NEW DELHI, DEC 15: A special PMLA court in Port Blair has dismissed the bail applications of Kuldeep Rai Sharma, former MP of the Andaman and Nicobar Islands; K Murugan, Managing Director of ANSCBL; K Kalaivanan, loan officer of ANSCBL; and Sanjay Lal, an associate of Kuldeep Rai Sharma, in connection with a PMLA case.
The Enforcement Directorate stated that the four accused had filed bail applications before the Special Court (PMLA) in Port Blair, which were rejected after a detailed hearing.
The special court held that prima facie evidence shows the active involvement of all four accused in money laundering activities arising from the A&N State Cooperative Bank fraud and related shell companies.
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