New Delhi: The CBI issued an alert at airports pan-India for directors of ABG Shipyard who have been charged for fraudulency of Rs 23,000 crore. A lookout circular has been issued to stop any person wanted by the law enforcement authorities The case pertains to funds sanctioned by 28 banks and misused during 2012-17. The CBI as per the forensic reports claimed the directors of the firm colluded together and engaged in diversion of funds, disproportionation and criminal breach of trust.
CBI would summon the directors of the flagship entity of ABG Group sources said earlier today. The then chairman and managing director Rishi Kamlesh Agarwal, former executive director Santhanam Muthaswamy and directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevatia would have to appear for the questioning in what is claimed to be India’s largest bank scam.
The CBI had filed an FIR on 7th February on grounds of alleged criminal conspiracy, cheating and corruption involving sizeable borrowings from a consortium of banks. The FIR was filed after SBI registered a complaint in November 2019, stating the shipyard owners had swindled Rs 22,842 crore, which apparently is a sanction given by 28 banks. Out of this Rs 7,089 crore is due to ICICI Bank, Rs 3,639 crore to IDBI Bank, Rs 2,925 crore to State Bank, Rs 1,614 crore to Bank of Baroda, and Rs 1,244 crore to Punjab National Bank, among others.
Nearly 13 locations related to the directors were raided including offices and other premises in Surat, Bharuch, Mumbai and Pune, where the agency recovered incriminating documents.