CBI issues lookout circular against directors of ABG Shipyard, alleging fraud of Rs 22842 crore

Look out circulars (LOCs) have been issued against the directors of ABG Shipyard in a loan fraud of Rs 22842 crore, a senior CBI official said.

Abg Shipyard (ANI)

Image Credit source: ANI

CBI (CBI) A senior official of ABG Shipyard in a loan fraud case of Rs 22842 crore said on Tuesday that ,ABG Shipyard, Look out circulars (LOCs) have been issued against the directors of Earlier, the CBI has registered a case against ABG Shipyard Limited and its then Chairman and Managing Director Rishi Kamlesh Agarwal along with others in the country’s biggest bank fraud case. The case was registered in connection with an alleged fraud of over Rs 22,842 crore from a consortium of banks led by State Bank of India, officials said on Saturday. There has been a tremendous uproar over the country’s biggest bank fraud case. After this fraud came to the fore, the Congress has become an attacker on the Modi government.

Congress spokesperson Randeep Surjewala said that the State Bank complained to the CBI in November 2018 that a large-scale fraud was being done on behalf of ABG Shipyard. In such a situation, criminal action should be taken against the company. Despite the complaint, the CBI did not take action and that file was sent back to SBI. The Congress had raised this matter in February 2018 itself, but the government did not pay attention to it. Let us inform that not one or two but 28 banks have been defrauded in this fraud. Explain that the leader of the consortium of 28 banks was ICICI Bank. The second lead was IDBI Bank, but the complaint was lodged by SBI. State Bank had first filed a complaint against the company in the CBI in November 2018.

PM Modi should tell how banks were cheated of Rs 22,842 crore: Congress

The Congress on Monday hit out at the central government over the alleged fraud of Rs 22,842 crore by Gujarat’s ABG Shipyard and said Prime Minister Narendra Modi should explain how the fraud happened and why he was silent on it. Party spokesperson Gaurav Vallabh claimed that the government had come to know about the fraud by ABG Shipyard five years ago, but the government did not take any action for five years.

This news has just broken. We are updating this news. We try to get the information to you first. So you are requested to refresh this page to know all the big updates. Also here to read our other story Click,