In its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its then Chairman and Managing Director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over ₹22,842 crore, officials said Saturday. The bank had first filed a complaint on November 8, 2019, on which the CBI had sought some clarifications on March 12, 2020. After "scrutinising" for over one and a half-year, the CBI acted on the complaint filing an FIR on February 7, 2022. The company was sanctioned credit facilities from 28 banks and financial institutions with the SBI having exposure of ₹2468.51 crore, they said. It is the biggest bank fraud case registered by the Central Bureau of Investigation (CBI).

Source: Mint February 13, 2022 05:36 UTC