Biggest Bank Fraud Case: CBI Arrests Ex-ABG Shipyard MD & Chairman Rishi Agarwal

New Delhi: The Central Bureau of Investigation (CBI) on Wednesday arrested former ABG Shipyard promoter, chairman and managing director Rishi Kamlesh Agarwal in connection with the biggest bank fraud case.

Agarwal is charged with duping a consortium of 28 banks, led by State Bank of India, of Rs 22,842 crore.

CBI booked the Mumbai-headquartered shipping company, its former MD and others in February.

Following complaints filed in November 2019 and August 2020 by SBI against ABG Shipyard, the central agency sought some clarifications. A year-and-a-half later, CBI filed an FIR earlier this year.

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