Enforcement Directorate (ED) has conducted the first ever search operation in Andaman and Nicobar Islands in connection with an alleged fraud case in the Andaman Nicobar State Cooperative Bank (ANSCB). Searches were carried out at nine places in and around Port Blair and two places in Kolkata. During the searches at Port Blair, the agency recovered various incriminating documents that point towards large scale irregularities in the grant of loans and overdraft facilities by ANSC Bank. ED said that the evidence collected so far indicates that loan facilities were extended to various shellcompanies by ignoring the laid down procedures and guidelines of the bank. Searches have also revealed that a group of around 15 entities were created by suspects for the benefit of Ex-MP of Andamanand Nicobar Islands Kuldeep Rai Sharma and loan facilities amounting to morethan 200 crores rupees were fraudulently taken by these entities from the ANSCB. It has also been revealed that a substantial portion of these loans were withdrawn in cash and have been paid to the beneficiaries including KuldeepRai Sharma. ED initiated investigation in the case on the basis of fir registered by Crime and Economic Offences, Andaman Nicobar Police against various private persons and officials of the bank.