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The Central Bureau of Investigation (SB) has booked ABG Shipyard Ltd, in its biggest bank fraud case.
SBI had first filed a complaint on November 8, 2019. On this, CBI had sought some clarifications on March 12, 2020. The bank filed a fresh complaint in August 2020, after scrutinising for around one and a half-year. CBI acted on the complaint filing an FIR on February 7, 2022.
What is the issue?
The ABG Shipyard Ltd was sanctioned credit facilities from 28 banks and financial institutions. In thus, SBI was having an exposure of Rs 2468.51 crore. According to forensic audit, between 2012-17, accused colluded together and committed illegal activities like misappropriation, diversion of funds, and criminal breach of trust. Funds were used for other purposes than for which banks released. It is the biggest bank fraud case registered by CBI.
By: Brijesh Kumar ProfileResourcesReport error
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