New Delhi: After the Central Investigation Bureau (CBI) ordered ABG Shipyard, former Chair and Managing Director of Rishi Kamlesh Agarwal and others for allegedly deceiving a two-dozen consortium lenders led by ICICI Bank, Tuesday issued a view of paying attention to them.
In a statement, the CBI said that looking out circular (Locs) had been opened against the defendant, while maintaining that the defendant was located in India, the PTI news agency reported.
The main goal behind the issuance of Loc is to prevent the defendant from leaving the country.
This is probably the largest bank fraud case that has been reported – involving more than RS 22,842 Crore.
This is clearly higher than what is done by NIRAV Modi and his uncle Mehul Choksi, who is suspected of deceiving the National Bank of Punjab (PNB) around Rs 14,000 Crore through the issuance of a bous.
The CBI was also named Executive Director of Sanhanam Muthaswamy, Directors of Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and other companies ABG International Pvt Ltd for alleged violations of criminal conspiracies, cheating, criminal violations in India Criminal Code (IPC) and prevention of corruption laws.
On February 12, the agency has searched 13 locations.
Officials claimed they had received several burdensome documents, such as books account company borrowers accused, which was being studied.
The State Bank of India (SBI) has also opened the LOC against the main accusations in 2019.
Located first submitting a complaint on November 8, 2019 where the Central Investigation Agency was looking for several clarification on March 12, 2020.
The Bank filed a new complaint in August that year .
After “researching” for more than one and a half years, the CBI acted on complaints, submitting FIR 7, 2022.
The company was approved by credit facilities from 28 banks and financial institutions led by ICICI Bank, with SBI, having exposure to RS 2,468.51 Crore , CBI said.
The loan account is declared a non-performing asset (NPA) in July 2016 and fraud in 2019.
(with input from PTI)