cbi: CBI files charge sheet against ex-ABG chairman Rishi Agarwal, 24 others in 22,842-crore bank fraud case


According to official sources, the CBI on Saturday filed a charge sheet against former ABG group chairman Rishi Agarwal and other people and organisations in relation to the alleged Rs 22,842-crore bank fraud at the ABG Shipyard Ltd.

In its charge sheet filed before the special CBI court here, the agency has named as accused Agarwal and five individuals and 19 companies including three Singapore-based firms, officials revealed.

Mumbai-based private company; its chairman & promoter; then chief financial officer of the said company; then vice president (accounts); then assistant vice president (accounts); another person handling the group’s offshore entities; then statutory auditor of the company and 18 other entities (India-based companies/firms & offshore entities) are among the 25 people against whom the charge sheet has been filed. This is all part of an ongoing investigation into a case involving the alleged fraud of Rs 22,842 crore (approx).

The agency has so far detected alleged diversion of Rs 5,000 crore and has kept the probe open. Some luxury properties of Agarwal have been seized by the CBI as well, the official said.
In response to a complaint from the State Bank of India, the agency had filed the case on February 7 of this year under the IPC and the Prevention of Corruption Act for the alleged offences of criminal conspiracy, cheating, criminal breach of trust, and misuse of public position.

“The SBI with an exposure of Rs 2,468.51 crore was part of a consortium of 28 banks and financial institutions led by ICICI Bank. The ABG Shipyard being a major player in Indian ship building industry operated from its shipyards located at Dahej and Surat in Gujarat with capacity to build vessels up to 18,000 dead weight tonnage (DWT) at Surat shipyard and 1,20,000 dead weight tonnage (DWT) at Dahej shipyard,” an FIR had alleged.

Inputs from PTI


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