India's Biggest Bank Fraud. ABG Shipyard Scam (Rs 22,842 Crore) (Cheated 28 Banks including International Banks)
ABG Shipyard company's Director allegedly cheated 28 Banks of Rs 22,842 Crore. ABG Shipyard Ltd. is the flagship company of the ABG Group which is into Shipbuilding and Ship Repairing.
The CBI has booked then chairman and Managing Director of ABG Shipyard Ltd. Mr. Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of 28 banks.
the Company owes: – SBI: Rs 2,925 cr – ICICI Bank: Rs 7,089 cr – IDBI Bank: Rs 3,634 cr – Bank of Baroda: Rs 1,614 cr – PNB: Rs 1,244 cr – IOB: Rs 1,228 cr and many more
This Scam was done from 2013 to 2017 but CBI registered an official FIR in 2022. The SBI had first filed a complaint on November 8, 2019
In the 1st complaint to the CBI, the SBI had stated: "The accused colluded together in committing the criminal activities. the involvement of unknown persons and public servants may also be examined."
It added: "The (SBI) Bank is not suspecting the involvement of its staff in the fraud perpetrated by the accused persons. The bank is not suspecting any common conspirator."
To the CBI's query on this aspect, the SBI said the Competent Authority had dealt with and closed the matter of 'staff accountability' in November 2018.
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