New Delhi, February 12
In its largest financial institution fraud case, the CBI has booked ABG Shipyard Ltd and its then Chairman and Managing Director Rishi Kamlesh Agarwal together with others for allegedly dishonest a consortium of banks led by State Financial institution of India of over Rs 22,842 crore, officers stated Saturday.
Apart from Agarwal, the company has additionally named the then Govt Director Santhanam Muthaswamy, Administrators Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and one other firm ABG Worldwide Pvt Ltd for alleged offences of prison conspiracy, dishonest, prison breach of belief and abuse of official place beneath the IPC and the Prevention of Corruption Act, they stated.
The financial institution had first filed a criticism on November 8, 2019, on which the CBI had sought some clarifications on March 12, 2020.
The financial institution filed a recent criticism in August that yr. After “scrutinising” for over one and a half-year, the CBI acted on the criticism submitting an FIR on February 7, 2022.
The corporate was sanctioned credit score amenities from 28 banks and monetary establishments with the SBI having publicity of Rs 2468.51 crore, they stated.
The Forensic Audit has proven that between 2012-17, the accused colluded collectively and dedicated unlawful actions together with diversion of funds, misappropriation and prison breach of belief, they stated.
It’s the largest financial institution fraud case registered by the Central Bureau of Investigation (CBI).
Funds had been used for functions aside from for which they had been launched by banks, it stated.