ABG Shipyard Bank Loan Scam: The Central Bureau of Investigation (CBI) on Tuesday said it has issued lookout notices against Rishi Agarwal and other directors of ABG Shipyard in connection with the Rs 22,842 crore bank fraud case to ensure that they do not leave the country. . The central agency said that the matter is being investigated.
A senior CBI official was quoted as saying by news agency ANI that lookout circulars (LOCs) were issued against the directors of ABG Shipyard in the Rs 22,842 crore bank loan fraud case. According to the Central Bureau of Investigation, a forensic audit report received from banks two years ago found cases of fraud in April 2012 and July 2017.
On February 12, the CBI had registered an FIR against ABG Shipyard Limited and its then Chairman and Managing Director Rishi Kamlesh Agarwal, among others, in the country’s biggest bank fraud case. The case was registered in connection with an alleged fraud of over Rs 22,842 crore from a consortium of banks led by the State Bank of India (SBI), officials said.
ABG Shipyard Bank scam of 22 thousand crores happened during the tenure of Gujarat’s private shipbuilding company UPA! CBI told the complete history of the country’s biggest banking fraud
Apart from Agarwal, the agency has also booked another company, including the then executive director Santhanam Muthaswamy and three directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia, for allegedly criminal conspiracy, cheating, criminal breach of trust and official misappropriation. filed suit for He said that these people have been prosecuted under the Indian Penal Code (IPC) and the Prevention of Corruption Act.
The bank’s consortium had first filed the complaint on November 8, 2019, on which the CBI had sought some clarifications on March 12, 2020. The consortium of banks filed a fresh complaint in August that year and after more than a year and a half of investigation, the CBI acted on it. The official said the company was sanctioned loans of Rs 2468.51 crore by SBI as well as 28 banks and financial institutions.
He said that the forensic audit revealed that between 2012-17, the accused allegedly colluded and carried out illegal activities, including misuse of loans and criminal breach of trust. This is the biggest bank fraud case ever registered by the CBI.
The CBI on Tuesday said that the bank accounts of private shipping firm ABG Shipyard were declared as non-profitable assets (non-profitable assets) according to the State Bank of India in 2013 and this happened after the Congress-led UPA government. was in power.
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