The Central Bureau of Investigation has filed a charge sheet against former chairman and managing director (CMD) of ABG Shipyard Ltd, Rishi Kamlesh Agrawal, five others and 19 companies in connection with an alleged bank fraud of ₹22,842 crore, officials said on Saturday.
The CBI has so far detected diversion of bank money worth ₹5,000 crore by Agrawal and other co-accused to invest in immovable and movable properties in India and abroad, the officials said, adding some luxury properties of Agrawal have been seized already.
ABG Shipyard Ltd, the flagship company of ABG Group and a major player in the Indian ship-building industry, has been accused of cheating a consortium of 28 banks led by ICICI Bank of ₹22,842 crore between 2005 and 2012.
ICICI is believed to have the highest exposure of ₹7,089 crore, followed by IDBI Bank ( ₹3,639 crore), State Bank of India ( ₹2,925 crore), Bank of Baroda ( ₹1,614 crore) and Punjab National Bank ( ₹1,244 crore).
It was on November 8, 2019 that the State Bank of India first filed a complaint with the CBI, prompting the agency to seek some clarifications from the company on March 12, 2020.
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