Former MP Kuldeep Rai Sharma Granted Bail in PS C&EO Case Linked to ANSCB Loan Irregularities, however Stays in Judicial Custody in ED Case

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 reference to the Andaman and Nicobar State Cooperative Bank Limited (ANSCBL) mortgage irregularities case registered on the Police Station Crime and Economic Offences (PS C&EO). However, regardless of securing bail on this case, Mr. Sharma will proceed to stay in judicial custody in reference to a separate case filed by the Directorate of Enforcement (ED) below the Prevention of Money Laundering Act (PMLA), 2002.

Mr. Sharma, the previous 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, the place he was present process therapy. His arrest adopted a grievance lodged by the Deputy Registrar of Cooperative Societies (Headquarters), alleging critical irregularities within the sanctioning of loans by ANSCBL. Acting on this grievance, 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 reference to the identical matter below the provisions of the PMLA, 2002, whereas he was already in judicial custody in reference to the PS C&EO case.

Alongside Mr. Sharma, the ED additionally arrested Mr. Ok. Murugan, Managing Director of ANSCBL, and Mr. Ok. Kalaivanan, Loan Officer of ANSCBL, on September 17, 2025, whereas they had been additionally in custody within the PS C&EO case. Sources confirmed that each Mr. Murugan and Mr. Kalaivanan have been granted bail within the PS C&EO case; nevertheless, they too proceed to stay in judicial custody in reference to the ED case.

Another accused, Mr. Sanjay Lall, a businessman from Sri Vijaya Puram, was arrested by the ED on October 22, 2025, in reference to the identical investigation. Mr. Sharma, Mr. Murugan, Mr. Kalaivanan, and Mr. Lall are presently in judicial custody, with their subsequent manufacturing earlier than the courtroom scheduled for November 14, 2025. On the identical day, the Hon’ble District and Sessions Judge Court can be anticipated to listen to a petition filed by the Enforcement Directorate in search of custody of Mr. Murugan.

Earlier, one other businessman, Mr. M. Sajid, turned the primary accused to safe bail within the PS C&EO case after the Circuit Bench of the Hon’ble Calcutta High Court at Port Blair granted his plea.

Meanwhile, nationwide media retailers have reported that a number of others — together with 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. Ok. Subramanian, former Director of ANSCBL — have additionally been granted bail by the CJM Court. However, Nicobar Times couldn’t independently confirm these experiences, as a number of makes an attempt to entry the official bail orders from the CJM Court had been unsuccessful.

While the bail order within the PS C&EO case provides partial reduction to Mr. Sharma, his launch stays contingent upon securing bail within the Enforcement Directorate’s cash laundering case. For now, the previous MP continues to stay in judicial custody as proceedings in each issues progress.