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The CBI arrested the founder-chairman of ABG Shipyard Limited, Rishi Kamlesh Agarwal, in connection with an alleged bank fraud of ₹22,842 crore. The company was sanctioned credit facilities from 28 banks and financial institutions led by ICICI Bank, with SBI having an exposure of ₹2,468.51 crore. Funds were used for purposes other than for which they were released, officials said.
short by Anmol Sharma / 06:51 pm on 21 Sep
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