Sri Vijaya Puram, June 27: As the multi-agency investigation into the alleged ₹147-crore loan fraud at the Andaman & Nicobar State Cooperative Bank (ANSCB) intensifies, sources have confirmed that another internal coordination meeting is currently underway at the Police Control Office. The meeting, being chaired by SHO Sanjeev Mathew, comes amid growing public attention and unease over the pace of progress in what is being seen as one of the island’s most significant financial scandals.
While senior officers continue to review case files and coordinate with regulators and investigators, no breakthrough has been achieved yet, according to a source familiar with the proceedings. “There’s still no concrete lead,” the source told The Wave Andaman, requesting anonymity. The probe, however, remains active with teams still poring over financial records and loan processing trails.
The FIR filed in May, as previously reported by The Wave Andaman, named over 200 individuals, including ANSCB officials, businessmen, and high-value loan recipients. The Special Investigation Unit, led by IPS officer Jitendra Meena, has been tasked with unraveling the chain of alleged irregularities, including possible fund diversion and loan evergreening practices.
The Police Control Office meeting follows recent inspections and data recovery drives conducted at the bank’s headquarters and branch offices. As per The Wave Andaman’s earlier coverage, investigators have been focusing on loan disbursal anomalies, suspicious approval patterns, and the bypassing of standard verification procedures. Despite depositors demanding clarity, no arrests or seizures have been made so far.
Meanwhile, a Board meeting of the Cooperative Bank is scheduled for June 30 to review the case’s status and assess internal compliance failures (https://www.thewaveandaman.com/post/anscb-loan-scam-investigation-board-review-2025). The bank’s management had earlier issued a public statement attempting to reassure depositors after panic withdrawals were reported across Diglipur, Rangat, Mayabunder, and Billiground.
While the investigation unfolds, officials have reiterated their appeal for cooperation from those named in the FIR. All parties involved in the internal review continue to maintain operational secrecy, but with public trust on the line and a board review just days away, pressure is mounting for the probe to yield visible results.
