ABG Shipyard bank fraud under UPA, withdrawal of states consent a challenge: CBI
ABG Shipyard bank fraud under UPA, withdrawal of states consent a challenge: CBI The CBI said that as per banks complaint, the non-performing assets of ABG Shipyard are to the tune of ₹ 22, 842 crores and majority of disbursement took place between 2005 and 2012, this at a time when Congress-led UPA government was in power As per the bank (SBI) complaint, the non-profitable assets are to the tune of ₹ 22,842 crore and majority of disbursement took place between 2005 and 2012 by a consortium of 28 banks led by ICICI and included the SBI," the central agency said in a statement. The CBI referred to the forensic audit of the firm from 2012 to 2017 stated that the company was also referred to the national company law tribunal in Ahmedabad on August 1, 2017 by the ICICI Bank for corporate insolvency resolution process. However, several banks declared the account of ABG Shipyard as fraud during the financial year 2019-2020. The CBI referred to the records of the invest...