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What is the ₹22,842 cr ABG Shipyard case, biggest bank fraud registered by CBI?
short by Pragya Swastik / on Sunday, 13 February, 2022
The CBI in its biggest bank fraud case booked Mumbai-based ABG Shipyard, its directors and ex-Chairman Rishi Kamlesh Agarwal for allegedly defrauding 28 banks, including SBI, of ₹22,842 crore. The company's loan account became an NPA in 2013. An E&Y forensic audit report in 2019 identified fraud and attributed it to diversion of funds, misappropriation and criminal breach of trust.
read more at Hindustan Times