The loan account was declared a non-performing asset (NPA) in July 2016 and fraud in 2019. In the country's biggest-ever bank fraud case, the Central Bureau of Investigation (CBI) has booked the Gujarat-based facility for defrauding 28 banks to the tune of more than Rs 22,800 crore.

How much money is owed to banks on ABG Shipyard?
ICICI Bank Rs 7,089 crore, SBI Rs 2,925 crore, IDBI Bank Rs 3,639 crore, Bank of Baroda Rs 1,614 crore, Punjab National Bank Rs 1,244 crore, Exim Bank Rs 1,327 crore, Rs 1,244 crore at ABG Shipyard is owed. 719 crore to Indian Overseas Bank and Bank of Baroda, among others.

Rise of ABG Shipyard-
According to information received by India Today, ABGSL has built more than 165 ships, including 46 ships, for the export market in the last 16 years.
ABGSL is capable of manufacturing specialized vessels like Newsprint Carrier, Self-discharging and Loading Bulk Cement Carrier, Floating Crane, Interceptor Boat, Dynamic Positioning Diving Support Vessel, Pusher Tug, and Flotilla for leading companies in India and abroad.
Thanks to the impeccable built quality, ABGSL built ships that had gained class approval from all international classification societies such as Lloyd's, American Bureau of Shipping, Bureau Veritas, IRS, and DNV.

ABG Shipyard booked by CBI-
The CBI has booked a consortium of banks led by State Bank of India (SBI) against ABG Shipyard Ltd and its former Chairman and Managing Director Rishi Kamlesh Agarwal along with others for fraudulently worth over Rs 22,842 crore, officials said last week.
Other than Agarwal, the organization likewise named the then leader chief Santhanam Muthaswamy, chiefs Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia, and one more organization ABG International Pvt Ltd for supposed offenses of the criminal scheme, cheating, the criminal break of trust and official maltreatment. Is. He said that the circumstance under IPC and Prevention of Corruption Act.

"Search was led on Saturday at 13 spots in the premises of the blamed remembering the chiefs for the privately owned business for Surat, Bharuch, Mumbai, Pune and so forth in which implicating archives were recuperated," the CBI said in an articulation.

Biggest bank extortion in India-
This is one of the greatest bank extortion cases (greater than the Punjab National Bank trick including Nirav Modi and Mehul Choksi) that the CBI will explore.

FM Nirmala Sitaraman Statement-
The loans were given under the Congress-led UPA regime and the account became a non-performing asset (NPA) in November 2013 and the loan was restructured by all lenders in March 2014, but not again. could be taken.
Expressing that a bank follows a specific technique to proclaim record extortion, Sitharaman said it takes around 52-54 months for banks to finish the concentrated work prior to making a choice.
"In this specific case (ABG Shipyard) ... I should say from credit to banks, they have typically invested in some opportunity to distinguish this kind of extortion ... Typically, it takes I said it is requiring some investment to distinguish such things in 56 months and off-late," he said after the customary post-Budget address to the individuals from the RBI board.