New Delhi: The Central Bureau of Investigation (CBI), which has booked ABG Shipyard Ltd for defrauding a consortium of 28 banks, is carrying out searches at several places linked to the private sector shipyard firm in Mumbai.
The CBI is carrying out searches at several places linked to ABG Shipyard in Mumbai in connection with the Rs 22,842 crores bank fraud case, news agency ANI reported.
This comes as the CBI earlier registered an FIR against ABG Shipyard and its directors for allegedly cheating a consortium of banks led by the State Bank of India (SBI).
ALSO READ: Did Not Use Public Funds For Self: Rana Ayyub After ED Attachment
The CBI has named the company’s then Chairman and Managing Director Rishi Kamlesh Agarwal, then Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and another company ABG International Pvt Ltd, the officials said, PTI reported.
They have been named for alleged offences of criminal conspiracy, cheating, criminal breach of trust and abuse of official position under the IPC and the Prevention of Corruption Act, the officials added.
Earlier on March 12, 2020, the CBI had sought some clarifications on the complaint filed by the SBI on November 8, 2019.
Acting on the complaint, the CBI filed an FIR on February 7, 2022.
The officials said the Forensic Audit has shown that the accused colluded together and committed illegal activities, including diversion of funds, misappropriation and criminal breach of trust, between 2012-17.
The funds, as per the officials, were used for purposes other than for which they were released by the banks.
The company’s shipyards are located in Dahej and Surat in Gujarat.