Skip to main content

Ex-Chairman Of ABG Shipyard Visits CBI Headquarters To Join Probe

Last week, CBI questioned Rishi Aggarwal in the matter. ABG Shipyard case is said to be India's biggest bank fraud.

New Delhi:

Former Chairman and Managing Director (CMD) Rishi Aggarwal on Monday reached Central Bureau of Investigation (CBI) headquarter to join investigation with voluminous documents in ₹ 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.

ABG Shipyard case: Former Chairman and MD Rishi Aggarwal reaches CBI headquarters in Delhi to join the investigation pic.twitter.com/nLyeWWze5C

— ANI (@ANI) February 21, 2022

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 ₹ 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 ₹ 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.

Source - https://www.ndtv.com/india-news/abg-shipyard-case-ex-chairman-rishi-aggarwal-reaches-cbi-headquarters-to-join-probe-2779949

Comments

Popular posts from this blog

Vijay Aggarwal Advocate Internship News

Golden opportunity  to get  Vijay Aggarwal Advocate Internship . Get trained under the guidance of senior people. Law/ Legal -  Metropolitan Law Firm START DATE -  As early as  DURATION -  1 Month COMPENSATION - Certification APPLY BY -  Earliest About Internship With  vijay aggarwal metropolitan law firm Those who will be selected will manage day-to-day responsibilities like handling research-based work. Mentored by senior advocates and lawyers.  Who can apply for  vijay aggarwal's metropolitan law firm Should be good at multitask  Should be available for 30 days  Should possesses  skills and interests Perks Certification Number of openings 3

All You Need To Know About The Role Of Vijay Aggarwal Advocate In Punjab National Bank Scam

In the history of India, PNB Fraud Scandal has become the 2 nd biggest state run lending cases which astound the financial arena of our country. It was found that the fraud of Rs 11, 400 crores had happened at a branch located in Brady House in Fort, Mumbai. During the initial investigation, it was developed that the branch was issuing the unlawful bank guarantees from many years to these two renowned jewelry groups – Nirav Modi & his uncle Mehul Choksi . They were alleged for raising billions of dollars in the foreign credit which led them to commit this well-known bank scandal of India. This is one of the frauds happened in India which not just shook the country but also shook the banking sector to a great extent.   What Exactly Happened? On dated 29-01-2018, Punjab National Bank lodged a criminal complaint against 3 companies & 4 people. It includes jewelry billionaire Nirav Modi , Mehul Choksi (his uncle), Managing Director of Gitanjali Gems , stating that...

Delhi HC stays trial court proceedings in NI Act against a businessman

New Delhi [India], February 5 (ANI): The Delhi High Court has stayed proceedings before the trial court in section 138 Negotiable Instruments Act against a businessman in a complaint filed by TCI XPS, a division of Transport Corporation of India Ltd.   Businessman Arun Jain, erstwhile Director of Lilliput Kidswear Ltd. had prayed for the quashing of the summoning order and the complaint in the petition filed by him. The bench of Justice Swarana Kanta Sharma in an order passed on Feb 1, 2023, has issued notice to the respondent and said, “In the meanwhile, the Trial Court is requested to adjourn the matter to a date later than the date fixed by this Court.” Advocates Ayush Jindal and RK Gossain appeared for the businessman and submitted that the complaint was not maintainable since the cheque in question was presented by the complainant after the accused company was ordered to be wound up. It was also submitted that the material on record reveals that the petitioner could not have b...