CBI put airport on alert, after India’s biggest Bank Loan Scam

February 15, 2022 By Shivanee Thote

India is witnessing another major scam, but this time it has turned out to be enormous as India’s biggest bank loan scam. CBI has booked ABG Shipyard Ltd and its chairman and managing director Rishi Kamlesh Aggarwal for cheating a series of banks led by the State Bank of India for Rs.22,842 crores.

A lookout circulars have been issued for the bosses and the executives of ABG Shipyard Ltd, which is being used to stop the people involved from leaving the country. The Directors of the shipping firm include Rishi Agarwal, Santhanam Muthuswamy, and Ashwini Kumar.

CBI has also named the then Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal, and Ravi Vimal Nevetia, and another company ABG International Pvt Ltd for alleged offenses of criminal conspiracy, cheating, criminal breach of trust, and abuse of official position under the IPC and the Prevention of Corruption Act, they said.

ABG Shipyard is the flagship company of the ABG Group which is engaged in shipbuilding and ship repair. The shipyards are located in Dahej and Surat in Gujarat.

The matter had come in cognizance back on November 8th, 2019, when the bank had filed the complaint, to which CBI had sought some clarification till March 12, 2020. The bank filed a fresh complaint in August that year. After “scrutinizing” for over one and a half-year, the CBI acted on the complaint filing an FIR on February 7, 2022.

Updated by Preet Joshi

CBI put airport on alert, after India’s biggest Bank Loan Scam

Leave a Reply Cancel reply

The stories India overlooks, in your inbox