In a recent update to a money laundering case registered against ABG Shipyard Ltd, former Chairman and Managing Director (CMD) Rishi Aggarwal on Monday, February 21, reached the Central Bureau of Investigation (CBI) headquarters to join the investigation with voluminous documents in ₹22,842 crore bank loan fraud.
The legal team of Advocate Vijay Aggarwal accompanied Rishi Aggarwal to the CBI headquarters in Delhi. Advocate Vijay Aggarwal is well known for handling cases like 2G spectrum scam case, ICICI-Videocon case, Yes Bank’s Rana Kapoor case, etc.
Last week, CBI questioned Rishi Aggarwal in the matter, which is the country’s biggest alleged bank loan fraud case to date. ED filed a case on February 16 for alleged cheating of a consortium of 28 banks of over Rs 22,842 crore, official sources told PTI. According to PTI, huge investments made in the company’s overseas subsidiary by diverting the loans will be an essential part of the ED probe.
ABG Shipyard alleged of bank fraud
ABG Shipyard Ltd and its then chairman and managing director Rishi Kamlesh Aggarwal, along with others, were booked by the CBI for allegedly cheating the consortium of banks of over Rs 22,842 crore. CC (cash credit) loan, term loan, letter of credit, bank guarantee are the categories based on which the company was given loans.
The then executive director Santhanam Muthaswamy, directors Ashwini Kumar, Sushil Kumar Agarwal, and Ravi Vimal Nevetia, and another company ABG…
