Mumbai: The Indian state bank has said that he has filed a complaint against the ABG shipyard with the Central Investigation Bureau on behalf of the Public Sector Bank (PSB) in November 2019 and there was no delay in its part.
The Bank said that even though Bank Icici became the main lenders and IDBI banks became the second leader, “SBI preferably, as the largest PSB lender, filed a complaint with the CBI”, said the bank in a statement.
Clarification came when the Congress party had questioned the government for the delay in submitting FIR.
ABG Shipyard is one of 12 accounts called bankruptcy by the RBI in 2017.
Lenders, who have RS 22,842 crore exposure, lost most of their money because there were no takers for companies under bankruptcy.
“Because of the poor performance, the account became NPA (non-performing assets) on November 30, 2013.
The account was restructured based on the company’s debt restructuring mechanism in March 2014 by all lenders.
However, as a moderate shipping industry through a decline, one of which The worst ever seen, the company’s operation cannot rise again, “SBI’s statement added.
This account was again classified as NPA in July 2016, took place with the effect of November 30, 2013.
E & Y was appointed as a forensic auditor by the lender during April 2018.
Reports submitted by E & Y were placed before the Deception Identification Committee 18 of 2019.
Fraud Especially associated with the transfer of funds, abuse, and criminal violations of trust.
“The second complaint was submitted in December 2020.
This account is currently undergoing liquidation with a process driven by NCLT,” SBI said.
It was said the second complaint was followed after collecting additional information.
“There is no point in an effort to delay the process.
The lender forum diligently followed with the CBI in all such cases,” SBI said.