CBI arrests ABG Shipyard promoter Rishi Agarwal in ₹22,000-cr bank fraud case

Rishi Agarwal, a former promoter of shipbuilder ABG Shipyard Ltd, has been arrested by the Central Bureau of Investigation (CBI) in India’s biggest bank loan scam. 22,000 crore.

ABG Shipyard created a trading network to defraud a consortium of 28 banks with the aim of 22,842 crore from 2012 to 2017, in one case that came to light a few months back. Banks include State Bank of India (SBI), IDBI and ICICI.

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