CBI files chargesheet against ex-ABG Shipyard chief, 24 others in 23,000-cr bank fraud case

The Central Bureau of Investigation on 19 November filed a charge sheet against former ABG Shipyard Chairman Rishi Agarwal and others in ₹23,000-crore bank fraud case.

The country's premier probing agency said that the chargesheet has been filed against 25 accused including Mumbai-based Private Company ABG Shipyard Ltd, its chairman and promoter 18 other entities in an ongoing investigation of a case related to fraud of ₹22,842 crore.

Earlier on 21 September, the CBI had arrested the former promoter of fallen shipbuilder ABG Shipyard Ltd -- Rishi Agarwal -- in what is dubbed as India's biggest bank loan scam of ₹22,000 crore. 

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As per details, the ABG Shipyard created a web of transactions to cheat a consortium of 28 banks to the tune of ₹22,842 crore in between 2012 and 2017, in a case which has come to light a few months back. The banks include State Bank of India (SBI), IDBI and ICICI.

In the FIR filed by the CBI on 2 February 2022, it has booked ABG Shipyard and ABG International Private Ltd. It added that ABG SL owes around ₹22,842 crore. It owes ICICI, which was leading the consortium, ₹7,089 crore, SBI ₹2,925 crore, IDBI Bank ₹3,639 crore, Bank of Baroda ₹1,614 crore, Punjab National Bank ₹1,244 crore, Exim Bank Rs1,327, Indian Overseas Bank ₹1,244 crore, and Bank of India ₹719 crore, among others.

With agency inputs.