The ABG Shipyard company has been booked by CBI in charges of bank fraud case registered.
Ship building company booked by CBI:
The CBI has filed a case against its former Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore.
The accused:
The CBI further named the former Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal, and Ravi Vimal Nevetia, as well as another company ABG International Pvt Ltd, for alleged criminal conspiracy, cheating, criminal breach of trust, and abuse of official position under the IPC and the Prevention of Corruption Act.
Shares:
According to reports, among the 22-bank consortium, State Bank of India (SBI), ICICI Bank, and IDBI Bank had the lion’s share of exposure, in excess of 50 per cent in the shipping company. SBI was the first to classify the account as ‘fraud’, followed by ICICI Bank and then IDBI Bank. The bank-wise breakup of the exact exposure has been made available by journalist Arvind Gunasekar on Twitter.
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[10:20 pm, 13/02/2022] Swagata Borah: The ABG Shipyard company has been booked by CBI in charges of bank fraud case registered.
Shilp building company booked by CBI:
The CBI has filed a case against its former Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore.
The accused:
The CBI further named the former Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal, and Ravi Vimal Nevetia, as well as another company ABG International Pvt Ltd, for alleged criminal conspiracy, cheating, criminal breach of trust, and abuse of official position under the IPC and the Prevention of Corruption Act.
Shares:
According to reports, among the 22-bank consortium, State Bank of India (SBI), ICICI Bank, and IDBI Bank had the lion’s share of exposure, in excess of 50 per cent in the shipping company. SBI was the first to classify the account as ‘fraud’, followed by ICICI Bank and then IDBI Bank. The bank-wise breakup of the exact exposure has been made available by journalist Arvind Gunasekar on Twitter.
