Former CMD Of ABG Rishi Agarwal Reaches CBI Headquarters

Former CMD Rishi Agarwal reaches CBI Headquarters, is accused of the country’s biggest bank scam: ABG Shipyard case.

Rishi Agarwal, former chairman and managing director (CMD) of ABG Shipyard Limited, a company linked to India’s biggest bank scam (ABG Shipyard case), reached the CBI headquarters on Monday.

Rishi was seen coming with heavy documents to join the investigation.

Let us tell you that ABG Shipyard Limited is accused of a bank scam of Rs 22,842 crore. Last week also, the CBI had questioned Rishi Aggarwal in this case.

The team of advocates handling the case of the 2G spectrum also went along.

Along with Rishi Aggarwal, the legal team of Advocate Vijay Aggarwal has also reached the CBI Headquarters.

It is worth mentioning that Advocate Vijay Agarwal is best known for handling 2G spectrum scam cases, ICICI-Videocon cases, Rana Kapoor cases of Yes Bank, etc.

Let us tell you that recently the CBI said in a statement that the accused is located in India.

Alleged fraud of 22,842 crores of 28 banks.

According to the central agency, ABG Shipyard has defrauded 28 banks including the State Bank of India to the tune of Rs 22,842 crore.

In the present case, the consortium comprises 28 banks with disbursements of larger amounts.

CBI said there were various types of bank loans including CC loans, term loans, letters of credit, bank guarantees, etc. which were given as advances by banks.

In this case, SBI had also opened LOC in 2019 against the main accused.

These banks got hit.

According to CBI, a written complaint was lodged by State Bank of India on 25 August 2020 from Mumbai against the company M/s ABG Shipyard Limited, Rishi Kamlesh Agarwal, Chairman, and Managing Director and Guarantor, Santhanam Muthaswamy, etc.

Explain that banks including ICICI Bank, State Bank of India, State Bank of Patiala (currently State Bank of India), State Bank of Travancore (currently State Bank of India), etc. have suffered a loss of 22,842 crores.