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The Central Bureau of Investigation on 19 November filed a chargesheet against former ABG Shipyard Chairman Rishi Agarwal and others in ₹23,000-crore bank fraud case.
The country’s premier investigating agency said that the chargesheet has been filed against 25 accused including Mumbai-based Private Company ABG Shipyard Ltd, its chairman and promoter and 18 other entities in an ongoing investigation of a case related to fraud of ₹22,842 crore.
Earlier on 21 September, the CBI had arrested the former promoter of defunct shipbuilder ABG Shipyard Ltd — Rishi Agarwal — in what is being as India’s biggest bank loan scam of ₹22,000 crore.
As per details, the ABG Shipyard created a labyrinth of transactions to cheat a group of 28 banks to the tune of ₹22,842 crore in between 2012 and 2017, in a case which has come to light a few months back. The banks include State Bank of India (SBI), IDBI and ICICI.
In the FIR filed by the CBI on 2 February 2022, it has booked ABG Shipyard and ABG International Private Ltd. It added that ABG SL owes around ₹22,842 crore. It owes ICICI, which was leading the consortium, ₹7,089 crore, SBI ₹2,925 crore, IDBI Bank ₹3,639 crore, Bank of Baroda ₹1,614 crore, Punjab National Bank ₹1,244 crore, Exim Bank Rs1,327, Indian Overseas Bank ₹1,244 crore, and Bank of India ₹719 crore, among others.
The complainant bank i.e. State Bank of India in its complaint had alleged that the accused had cheated the consortium of 28 banks, led by ICICI bank, causing fraud of Rs. 22,842 crore(approx). Huge amounts were allegedly transferred the accused to its related parties and subsequently adjustment entries were made. It was further alleged that huge investment were made in its overseas subsidiary by diverting the bank loans. It was also alleged that funds from banks were diverted to purchase huge assets in the name of its related parties. The account of the said company turned NPA on 30.11.2013 and majority of loan disbursement allegedly happened between 2005 and 2013. The account was restructured under CDR mechanism on 27.03.2014. However operations of the company could not be revived.
Names of accused in Chargesheet :—
1. M/s ABG Shipyard Ltd. through its authorized representative
2. Shri Rishi Kamlesh Agarwal, then Promoter & Chairman
3. Shri Dhananjay Datar, then CFO of M/s- ABG Shipyard Ltd.
4. Shri Praveen Bhandari, then Vice President (Accounts)
5. Shri Santhanam Muthuswamy, then Assistant Vice President (Accounts)
6. Shri Balaji Gopal
7. Shri M.N. Ahmed of M/s Nisar & Kumar
8. M/s ABG International Pvt. Ltd. through its authorized representative
9. M/s One Ocean Shipping Pvt. Ltd. through its authorized representative
10. M/s ABG Engineering & Constructions Pvt. Ltd. through its authorized representative
11. M/s Somerset Estate Private Limited (Formerly known as M/s Sixth Land Developers Private Limited) through its authorized representative
12. M/s Aries Management Services Pvt. Ltd. through its authorized representative
13. M/s Gold Croft Property Private Ltd (formerly known as M/s First Land Developers Pvt. Ltd.) through its authorized representative
14. M/s G. C. Property Private Ltd (formerly known as M/s Third Properties Pvt. Ltd.) through its authorized representative
15. M/s Vipul Shipyard through its Partners
16. M/s Shivris Resources Private Ltd (also known as M/s Second Land Developers Pvt. Ltd. & M/s ABG Resources Private Ltd) through its authorized representative
17. M/s Fourth Land Developers Pvt Ltd. through its authorized representative
18. M/s. Fifth Properties Pvt Ltd. through its authorized representative
19. M/s. Ninth Estate and Properties Pvt Ltd through its authorized representative
20. M/s Sameehana Wave Power Private Limited (Formerly known as M/s First Mines and Minerals Pvt Ltd) through its authorized representative
21. M/s PFS Shipping (India) Limited through its authorized representative
22. M/s Nor Crane & Winch India Private Limited through its authorized representative
23. M/s ABG Shipyard Singapore Pte. Ltd. through its authorized representative
24. M/s Varada Global Pte Ltd. through its authorized representative
25. M/s Varada Eleven Pte Ltd. through its authorized representative
