Former Chairman and Managing Director (CMD) Rishi Aggarwal on Monday reached Central Bureau of Investigation (CBI) headquarter to join investigation with voluminous documents in Rs 22,842 crore bank loan fraud, allegedly committed by ABG Shipyard Limited.
Last week, CBI questioned Rishi Aggarwal in the matter. ABG Shipyard case is said to be India's biggest bank fraud.
Rishi Aggarwal was accompanied by the legal team of Advocate Vijay Aggarwal to the CBI headquarter. Advocate Vijay Aggarwal is best known for handling 2G spectrum scam case, ICICI-Videocon case, Yes Bank's Rana Kapoor case etc.
Recently CBI in a statement, said that the accused have been located in India. The State Bank of India (SBI) had also opened LOC against the main accused in 2019. According to the Central agency, ABG Shipyard defaulted on Rs 22,842 crore loans that it owed to 28 banks including the State Bank of India.
"In the instant case, there are 28 banks involved in consortium with a huge amount of disbursement. There were different nature of bank loans including CC Loan, Term Loan, Letter of Credit, Bank Guarantee etc. that were given as advance by the banks," stated the CBI.
According to the CBI, a written complaint dated 25 August 2020 has been received from DGM, State Bank of India, SAM Branch, Mumbai against the Company M/s ABG Shipyard Ltd, Rishi Kamlesh Agarwal, Chairman, and Managing Director, and Guarantor, Santhanam Muthaswamy, Executive Director, Ashwini Kumar, Director, Sushil Kumar Agarwal, Director, Ravi Vimal Nevetia, Director and M/s ABG International Pvt. Ltd. and unknown public servants alleging therein, commission of offences of Criminal Conspiracy, Cheating, Criminal Breach of Trust, abuse of official position, thereby causing wrongful loss of Rs. 22,842 Crore to the consortium of Banks, comprising of State Bank of India, e-State Bank of Patiala (presently state Bank of India), e- State Bank of Travancore (presently state Bank of India) etc., led by ICICI Bank.
The facts and allegations contained in the complaint disclose commission of offences punishable U/s 120-B, 409, 420 IPC and 13(2) r/w 13(1)(d) of PC Act, 1988 by all accused including firm and unknown public servants and unknown private persons, said the CBI.
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