Thursday, 08 December 2022

 

 

LATEST NEWS Fayaah Fayaah: Guru Randhawa & Nargis Fakhri Much Awaited Song Is On Hype Punjab released Rs.31.70 crore so far to families of 634 farmers martyred during Delhi protest : Kuldeep Singh Dhaliwal Fauja Singh Sarari Pays Homage To Martyrs On Occasion Of Armed Forces Flag Day To get freedom to the country, the flame blazed of revolution start from from the holy land of Ambala : Anil Vij People won, leaders lost, says CM Bhagwant Mann on historic win of AAP in MCD Tax exemption at par with private bus operators to taxi operators under consideration: Laljit Singh Bhullar Anmol Gagan Mann made surprise check at MC office Kharar In Kashmir, terrorists want to choke the space of pen Aryans inaugurates Immigration Office on the birthday of its founder in Sector 17, Chandigarh Punjab leaders celebrate historic victory of AAP in Municipal Corporation of Delhi Block Diwas : DC Rajouri presides over public outreach camp at Moughla Weekly Block Diwas held at 4 places in Doda district Awareness programme on MWPSC ACT held for police functionaries at Rajouri Mandir Gala Road Mishap : DC Rajouri Vikas Kundal meets injured at GMC&AH Atal Dulloo reviews status of Farmers’ Produce Organizations of Kashmir division Aryans inaugurates Immigration Office on the birthday of its founder in Sector 17, Chandigarh Not just a victory but a big responsibility for us : Manish Sisodia on MCD win Manoj Bajpayee looks in deep thought in 'Bandaa' poster Y.S. Jagan Mohan Reddy calls BCs 'backbone classes' at massive outreach conclave Leg-spinner Aroob Shah to lead Pakistan in inaugural edition of ICC U19 Women's T20 World Cup Bigg Boss 16: First Contestant To Be Evicted Sreejita De To Make Re-Entry As A Wild Card Contestant

 

CBI raids premises of ABG Shipyards, directors in loan fraud case

CBI, Crime News India, New Delhi, Central Bureau of Investigation, State Bank of India, ABG Shipyards

Web Admin

Web Admin

5 Dariya News

New Delhi , 12 Feb 2022

The Central Bureau of Investigation (CBI) on Saturday conducted raids in Rs 22,842 crore loan fraud case lodged against ABG Shipyards and its directors, at over a dozen places. The raids were carried out at the offices and premises belonging to the company and its directors. The CBI claims it has recovered incriminating documents.A CBI official told IANS that they conducted search operations in Surat, Bharuch, Mumbai, Pune which led to the recovery of incriminating documents.

A complaint against them was lodged by the State Bank of India (SBI) on the basis of which the CBI filed an FIR naming Rishi Aggarwal and Santhanam Muthuswamy, the directors of ABG Shipyards.The accused have cheated the consortium of 28 banks including the branches of erstwhile State Bank of Patiala, Commercial Finance Branch, New Delhi, erstwhile State Bank of Travancore, Commercial Branch, New Delhi, State Bank of India, Overseas Branch, Mumbai. The consortium of 28 banks was led by ICICI Bank.The accused had colluded together and committed activities by way of diversion of funds for the purpose other than for which the funds were released by the bank.

"Huge amounts were allegedly transferred by ABG Shipyards to its related parties and subsequently adjustment entries were made. Bank loans were diverted and huge investment was found to be made in the overseas subsidiary. The funds were diverted to purchase huge assets in the name of its related parties," said the CBI official.

The CBI has now lodged an FIR and seeing the gravity of the matter they have formed a team of its elite officials to look into it. The CBI may summon the directors of ABG Shipyards to join the investigation and will record their statements."They took a loan of Rs 1,228 from Indian Overseas Bank, Rs 1,244 crore from Punjab National Bank, Rs 1,614 crore from Bank of Baroda, Rs 7,089 crore from ICICI Bank and Rs 3,634 crore from IDBI Bank. Later they didn't pay the bank their dues. Initially, the bank started an internal inquiry in which it was found that the company was cheating the consortium of Banks by diverting funds to different entities," said the CBI source.There are also possibilities that directors of ABG group may be arrested.ABG Shipyards is connected to ABG group company which is in the business of ship repairing and shipbuilding. They have Shipyards in Gujrat.The official said that further probe in the matter is on.

 

Tags: CBI , Crime News India , New Delhi , Central Bureau of Investigation , State Bank of India , ABG Shipyards

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD