Country / The biggest bank fraud till date this company defrauded 28 banks of 22842 crores

The Central Bureau of Investigation (CBI) has registered an FIR in the country's biggest banking fraud case till date. According to the information, this case has been registered against ABG Shipyard. It is alleged that there has been a disturbance of about 22 thousand crore rupees. An FIR has been registered against ABG Shipyard and its directors for cheating 28 banks to the tune of Rs 22,842 crore, the CBI official said. The company is engaged in the business of shipbuilding and ship repair. Its shipyards are located at Dahej and Surat in Gujarat.

What is the whole matter?

ABG Shipyard and their directors have been accused of allegedly defrauding 28 banks to the tune of Rs 22,842 crore. The Central Bureau of Investigation says that ABG Shipyard and their directors Rishi Agarwal, Santhanam Muthuswamy and Ashwini Agarwal have defrauded banks of more than Rs 22,000 crore.

Fraud of thousands of crores from many banks

According to SBI's complaint, the company had taken a loan of Rs 2925 crore from it. While the outstanding is 7089 crores from ICICI, 3634 crores from IDBI, 1614 crores from Bank of Baroda (BOB), 1244 crores from PNB and Rs 1228 crores from IOB.

Bigger fraud than Nirav Modi

CBI has now started further investigation in this case. All relevant documents are being scrutinized. Earlier, the case of fraud of Rs 14 thousand crore with Punjab National Bank (PNB Bank Fraud) by diamond trader Nirav Modi was very much discussed. Many properties of Nirav Modi have also been confiscated in the country and abroad. Efforts are also on to extradite him from London to India. At the same time, the case of bank fraud of about 9 thousand crore rupees on Vijay Mallya is also in the headlines. The exercise to extradite him to India is in the final stages. In this episode, this case is being considered as the biggest fraud.