In the History of CBI, it is the biggest Bank Loan Scam! In 5 years, ABG Shipyard Frauds Rs 22,842 Cr With 28 Banks In 5 Yrs. ABG Shipyard Ltd is deemed to be the flagship company of the ABG Group which is occupied in ship repair and shipbuilding
- ABG Shipyard frauded 28 banks with loans owed 22,800 crores
- CBI captured India’s biggest fraud
Shockingly, this is the biggest fraud in the history of India. In 2012-2017, the company was allowed credit facilities of Rs 22,842 crore from 28 banks and financial organizations. The firm has also created a sequence of transactions to fake an association of banks.
It also includes big banks such as the State Bank of India (SBI), ICICI, and IDBI. In this 23,000 crore rupees fraud case, the lookout circulars have been discharged against the bosses and senior executives of ABG Shipyard.
The lookout circular will ensure the stoppage of any person wanted to leave the country by the law enforcement authorities via airports and border crossings.
CBI [the Central Bureau of Investigation] states that “the ABG Shipyard frauded on ₹ 22,842 crore loans owed to 28 banks. Rishi Agarwal, Santhanam Muthuswamy, and Ashwini Kumar are the said Directors of the shipping firm. The shipyards of the company are located in Dahej and Surat in Gujarat.
Published By – Vanshu Mehra
Edited By – Subbuthai Padma
