New Delhi: Days after he was booked by the Central Bureau of Investigation (CBI) ABG ShipyardAfter its former chairman and managing director Rishi Kamlesh Agarwal and others allegedly defrauded a consortium of two dozen lenders led by ICICI Bank, the agency on Tuesday issued a look out notice against them.
In a statement, the CBI said that Look Out Circulars (LoCs) have already been opened against the accused, while the accused are located in India, news agency PTI reported.
The main objective behind issuing LOC is to prevent the accused from going out of the country.
This is probably the biggest bank fraud case ever registered – involving over Rs 22,842 crore.
This is certainly more than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly duped Punjab National Bank (PNB) to the tune of Rs 14,000 crore by issuing fraudulent Letters of Undertaking (LoUs).
The CBI has also booked the then Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and another company ABG International Pvt Ltd for the alleged offenses of criminal conspiracy, cheating, criminal breach of trust and abuse of official position under Indian law. has been nominated. Penal Code (IPC) and Prevention of Corruption Act.
The agency had conducted searches at 13 places on February 12. The officials claimed that they have found several incriminating documents, such as books of accounts of the accused borrower company, which are being scrutinised.
State Bank of India (SBI) had also opened LOC against the main accused in 2019.
It had first filed the complaint on November 8, 2019, on which the central probe agency had sought some clarifications on March 12, 2020.
The bank filed a new complaint in August that year. After “investigating” for more than a year and a half, the CBI acted on the complaint, registering an FIR on February 7, 2022.
The CBI said the company was sanctioned credit facilities from 28 banks and financial institutions led by ICICI Bank with an exposure of Rs 2,468.51 crore with SBI.
The loan account was declared as a non-performing asset (NPA) in July, 2016 and fraud in 2019.
(with inputs from PTI)
In a statement, the CBI said that Look Out Circulars (LoCs) have already been opened against the accused, while the accused are located in India, news agency PTI reported.
The main objective behind issuing LOC is to prevent the accused from going out of the country.
This is probably the biggest bank fraud case ever registered – involving over Rs 22,842 crore.
This is certainly more than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly duped Punjab National Bank (PNB) to the tune of Rs 14,000 crore by issuing fraudulent Letters of Undertaking (LoUs).
The CBI has also booked the then Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and another company ABG International Pvt Ltd for the alleged offenses of criminal conspiracy, cheating, criminal breach of trust and abuse of official position under Indian law. has been nominated. Penal Code (IPC) and Prevention of Corruption Act.
The agency had conducted searches at 13 places on February 12. The officials claimed that they have found several incriminating documents, such as books of accounts of the accused borrower company, which are being scrutinised.
State Bank of India (SBI) had also opened LOC against the main accused in 2019.
It had first filed the complaint on November 8, 2019, on which the central probe agency had sought some clarifications on March 12, 2020.
The bank filed a new complaint in August that year. After “investigating” for more than a year and a half, the CBI acted on the complaint, registering an FIR on February 7, 2022.
The CBI said the company was sanctioned credit facilities from 28 banks and financial institutions led by ICICI Bank with an exposure of Rs 2,468.51 crore with SBI.
The loan account was declared as a non-performing asset (NPA) in July, 2016 and fraud in 2019.
(with inputs from PTI)
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