The Enforcement Directorate (ED) has attached two semi-submarine tourist vessels imported from Croatia, a hotel, some land parcels, and bank deposits worth Rs 121 crore under the anti-money laundering law in an alleged Rs 500-crore cooperative bank fraud in the Andaman and Nicobar Islands.It also filed a fresh chargesheet in the case on November 6 before a special Prevention of Money Laundering Act (PMLA) court in Port Blair.A provisional order was issued under the PMLA on November 5 attaching a total of 35 immovable and five movable properties, the agency said in a statement.The total value of these assets is Rs 121.35 crore, the agency said.One of the main accused in the case involving Andaman and Nicobar State Cooperative Bank (ANSCBL) is former local MP and Congress leader Kuldeep Rai Sharma. The former parliamentarian served as the vice-chairman of the bank.He was arrested and chargesheeted by ED in this case, which stems from an FIR filed by Crime and Economic Offences Cell of the Andaman and Nicobar Police.ED stated that the attached properties include the land and building of Joye Grand Hotel (located in Andaman) and two semi-submarine tourist vessels imported from Croatia for about Rs 211 crore, registered in the name of Andaman Escapades Pvt Ltd.However, the investigation revealed that they (semi-submarines) were actually bought for Kuldeep Rai Sharma using money from a fraudulent loan taken in the name of a shell company, Heyday Hospitality Services Pvt Ltd, ED alleged.It said the rest of the properties were acquired through powers of attorney or sale agreements in the names of borrowers, accused persons and dummy directors.ED claimed that Sharma, along with bank officials and his associates, allegedly got loans sanctioned through shell companies in violation of banking rules. The loan money was then “diverted” and never repaid, it claimed.The senior bank officials, including the vice-chairman and ex-MP Kuldeep Rai Sharma and MD K Murugan (since deceased), reportedly took a bribe of about 5 per cent of the loan amount, ED sources said.In many cases, loans were sanctioned in excess and a share of such sanctioned loans was taken in cash or through shell companies, according to ED.With the latest order, the total attachment of assets in the case stands at Rs 326 crore.ED had filed its first chargesheet in this case in November 2025, which included the former MP, and the total number of accused named in the two chargesheets stands at 52.