The Central Bureau of Investigation (CBI) has arrested the Founder-Chairman of ABG Shipyard Limited Rishi Kamlesh Agarwal in connection with an alleged bank fraud of more than Rs 22,842 crore.
The CBI had charged Agarwal and others for the alleged offences of criminal conspiracy, cheating, criminal breach of trust and abuse of official position under the Indian Penal Code (IPC) and the Prevention of Corruption Act.
A CBI spokesperson said, “Agarwal was called for questioning on Wednesday at the CBI headquarters during which the investigating officer suspected that he was not co-operating in the probe and was evasive in responses following which he was arrested.”
“The SBI with an exposure of Rs 2,468.51 crore was part of a consortium of 28 banks and financial institutions led by ICICI Bank. The ABG Shipyard being a major player in Indian ship building industry operated from its shipyards located at Dahej and Surat in Gujarat with capacity to build vessels up to 18,000 dead weight tonnage (DWT) at Surat shipyard and 1,20,000 dead weight tonnage (DWT) at Dahej shipyard,” an official said.
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