TRUTH behind India's biggest bank fraud case of Rs 22,842 crore

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).