Abg bank fraud: In Gujarat, the biggest scam in bank history, 28 banks were fined Rs 22,842 crore | ABG Shipyard Company

Bank Fraud: The biggest scam in bank history has come to light. ABG Shipyard has slapped Rs 22,842 crore on 28 banks.

Bank Fraud

The biggest scam in bank history has come to light. ABG Shipyard has slapped Rs 22,842 crore on 28 banks. The Central Bureau of Investigation (CBI) has registered a case against ABG Shipyard and its then chairman Rishi Kamlesh Agrawal along with eight others. ABG Shipyard is a company that builds and repairs ships.

 The shipyards of this company are at Dahej and Surat in Gujarat. An FIR has been lodged against a total of eight persons of ABG Shipyard Company. Accordingly, the scam took place between April 2012 and July 2017. This is said to be the biggest scam filed by the CBI.

ABG Shipyard has slapped Rs 22,842 crore on 28 banks.

 SBI’s DGM has accused several companies in Gujarat of defrauding them of Rs 22,842 crore. The scam is said to be the biggest bank scam ever. Because this scam is bigger than Nirav Modi. According to the FIR filed by the CBI, ABG Shipyard and ABG International are the two major companies involved in the scam. Both these companies belong to the same group.  

In Gujarat, the biggest scam in bank history, 28 banks were fined Rs 22,842 crore | ABG Shipyard Company
In Gujarat, the biggest scam in bank history, 28 banks were fined Rs 22,842 crore | ABG Shipyard Company

ABG Shipyard Company has broken all the rules and committed fraud in many banks. Not only the bank but also LIC has been slapped. According to AFIR, ABG Shipyard has defrauded LIC of Rs 136 crore. SBI has been fined Rs 2,468 crore. He is also accused of sending and investing the money abroad. Breaking the rules has sent money from one company to another.  

ABG Shipyard Company has broken all the rules and committed fraud in many banks

According to a complaint lodged by SBI, the shipyard company has borrowed Rs 7,089 crore from SBI Bank, Rs 3,634 crore from IDBI Bank, Rs 1,614 crore from Bank of Baroda, Rs 1,244 crore from Punjab National Bank and Rs 1,228 crore from Indian Overseas Bank. Earlier, a complaint was lodged by the bank on November 8, 2019. The CBI had sought clarification on March 12, 2020. In August 2020, another complaint was lodged by the bank. After more than a year and a half of investigation, on February 7, 2022, the CBI initiated proceedings.  

Apart from Rishi Kamlesh Agrawal, the CBI has also registered cases against Santhanam Muthaswamy, Ashwini Kumar, Sushil Kumar Agrawal, Ravi Vimal Nevetia and others for criminal conspiracy, fraud, breach of criminal trust and official misconduct.