Nearly half a dozen bank officials have been questioned in connection with the ongoing investigation in the country’s biggest bank fraud case involving Surat-based company ABG Shipyard. The investigation is going on regarding the loan given to the company by senior officials of the bank.
questioning due to suspicion
According to the information, the CBI has made this inquiry in the case of suspicion. A consortium of 28 banks had given a loan of Rs 22,842 crore to ABG Shipyard. This debt has sunk and the company has diverted funds. Those who have been questioned include several officials of a bank. This bank has given more loan to ABG Shipyard.
Many more officers will be summoned
People monitoring the matter have said that the agency will question more bank officials soon. Meanwhile, the CBI is continuing the interrogation of Rishi Agarwal, former chairman of ABG Shipyard. He was summoned for the third time on Thursday. Earlier, Agarwal has been questioned rigorously for more than 9 hours every day on Monday and Tuesday.
Questions on the basis of forensic audit
The CBI has sought answers from Agarwal on tough questions based on the forensic audit report submitted by audit firm Ernest & Young to the bank consortium. Based on this, one of the group’s banks approached the CBI for registering an FIR. Significantly, the forensic audit report was given in January 2019.
The Ernest & Young report had pointed out several possible diversions of loans borrowed from banks by the company and its directors. Earlier this week there were reports that the role of four independent directors in the company is also under the scanner of probe agencies.
Independent directors will also be questioned
The CBI is also going to question these independent directors. In any company, independent directors are also responsible for irregularities. Let us tell you that ABG Shipyard Company does ship building and repair work. Its shipyards are located at Dahej and Surat in Gujarat. According to the FIR, this scam is from April 2012 to July 2017. This scam can be called the biggest scam ever in banking fraud, because it is a bigger scam than Nirav Modi.
ICICI Bank has Rs 7,089 crore
According to the complaint of SBI’s DGM, the company has Rs 7,089 crore with ICICI Bank, Rs 3,634 crore with IDBI Bank, Rs 2,468 crore with SBI, Rs 1,614 crore with Bank of Baroda, Rs 1,244 crore with Punjab National Bank, 1,228 crore with Indian Overseas Bank. crores and LIC has lost Rs 136 crores.