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Feb 16, 2022 · What is the scam? In India's biggest bank fraud case, the Central Bureau of Investigation (CBI) has booked Gujarat-based ABG Shipyard for cheating a consortium of 28 banks to the tune of more than Rs 22,842 crore.
Feb 18, 2022 · ABG Shipyard has been accused of loan fraud by a consortium of 28 banks led by the State Bank of India. The CBI registered an FIR in the case on February 7, based on a complaint filed by the...
Feb 19, 2022 · With the situation worsening, in March 2014, the high debt-laden ABG Shipyard undertook a Corporate Debt Restructuring scheme, according to which its lenders gave it a breather by allowing for...
Feb 16, 2022 · On 7 February, the Gujarat-based firm and its directors were booked by the Central Bureau of Investigations for fraudulent loan defaults to the tune of Rs 22,842 crore. This trumps the scam ...
Feb 13, 2022 · A major Gujarat-based ship-building company and its directors have been booked by CBI for fraudulent loan default to the tune of Rs 22,842 crore, making it one of the biggest loan fraud cases the agency is probing.
Jan 17, 2024 · ABG Shipyard Ltd, accused in India's biggest bank fraud case, created 27 "paper companies" and used 38 Singapore-based group entities to divert funds borrowed from ICICI Bank-led lenders. The Enforcement Directorate's chargesheet reveals that the diverted funds were transferred to Singapore and invested in tax havens.
Feb 17, 2022 · Once considered a powerhouse in shipbuilding with an order book of Rs 16,600 crore, Gujarat’s ABG Shipyard is now under probe for fraud. On a complaint by State Bank of India, the CBI recently booked ABG Shipyard, its directors, and ABG International Pvt Limited for allegedly causing losses of Rs 22,842 crore to a consortium of 28 banks.
ABG Shipyard, incorporated in 1985, is accused of defrauding 28 banks to the tune of ₹ 22,842 crores in what could be the biggest bank fraud in the history of India.
Feb 17, 2022 · In India's biggest bank fraud case, the Central Bureau of Investigation (CBI) has booked Gujarat-based ABG Shipyard for cheating a consortium of 28 banks to the tune of more than Rs 22,842 crore. The company is accused of allegedly siphoning off bank loans and is facing liquidation through an insolvency process at the National Company Law Tribunal.
Feb 12, 2022 · In its biggest bank fraud case yet, the Central Bureau of Investigation today filed a case against ABG Shipyard and its Directors Rishi Agarwal, Santhanam Muthuswamy, and Ashwini Kumar for...
