233:
November 2019, State bank of India petitioned CBI to conduct an investigation. CBI asked the bank to investigate at their level to check for involvement of bank insiders which was ruled out subsequently. Post this in
September 2020 SBI filed a fresh complaint seeking investigation in to the role of public servants and other persons in the fraud. In February 2022, a look out circular was issued against the ABG former Chairman Rishi Agarwal and others in the case.
339:
causing criminal breach of trust with an intent to use the banks funds for personal gains possibly to tax havens. SBI stated that funds were used to pay other lenders and get letters of credit. Earlier in
October 2016, Standard Chartered bank filed a criminal complaint with Economic Offences Wing in Maharashtra for cheating them of Rs 200 crore loan as they failed to repay the short-term loan they sought from the bank in April 2012.
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ABG became one of the largest private ship building companies in India with a capacity to manufacture vessels up to 20 tonnes in weight. In
January 2019, a forensic audit by E&Y revealed that ABG had defrauded a 28-member consortium of bankers to the tune of Rs 22000 crores. Following this in
208:
ABG Shipyard Ltd is a part of the ABG Group of companies with diversified business interests. Established in 1985, as
Magdalla Shipyard Pvt. Ltd., in May 1995 the company name was changed to ABG Shipyard Pvt. Ltd. after that the company went public and in June 1995 company name was changed to ABG
338:
Despite having reputation and success in the ship building industry, in 2012 the finances of ABG started dwindling which was later discovered by a forensic audit by E&Y initiated by SBI. During the audit it was alleged that the top management of the company was involved in diversion of funds
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builds a range of commercial vessels. These include self-loading and self-discharging
650:"Rolls-Royce and ABG Shipyard Ltd prepare Indian Coast Guard for oil emergency role"
547:"EY likely to be key prosecution witness in Rs 22,482-crore ABG Shipyard fraud case"
288:
841:"StanChart files criminal complaint against ABG Shipyard, promoter Rishi Agarwal"
330:(US$ 2.4 billion). In July 2017, the company agreed to file for insolvency.
411:"How ABG Shipyard sunk into ocean of debts and got booked in biggest fraud case"
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In 2004, it was awarded a contract to build pollution-control vessels for the
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598:"Explained: India's biggest bank fraud, ABG Shipyard's Rs 23,000-cr scam"
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573:"CBI to probe role of 'public servants' in ABG Shipyard bank fraud case"
315:(US$ 120 million) deal to build two cadet training ships for the
287:. It was the second corporate shipyard to receive this licence after
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761:
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Companies formerly listed on the
National Stock Exchange of India
319:. In January 2012, it won an order of 5 billion order from
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Subas
Gantayat (Vice president)- Deepak Saxena (Head Commercial)
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487:"ABG Shipyard completes acquisition of Western India Shipyard"
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514:"After 5 auctions, ABG Shipyard assets to be sold privately"
298:. In 2009, the Shipyard was selected to build 11 high-speed
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Limited in
October 2010, it operates a ship repair unit in
815:"No delay in filing complaints against ABG Shipyard: SBI"
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which is the largest ship maintenance facility in India.
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Companies formerly listed on the Bombay Stock
Exchange
730:"ABG Shipyard bags Rs 500 cr order from Shipping Corp"
672:"Interceptor boats built by ABG commissioned at Kochi"
624:"Coast Guard staff had role in swinging deal with ABG"
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to build warships and various other vessels for the
704:"ABG Shipyard inks Rs 970-cr deal with Indian Navy"
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279:ABG Shipyard Ltd was granted clearance from the
789:"LIC sits on over Rs 21,500 cr unclaimed funds"
757:"ABG Shipyard agrees to insolvency proceedings"
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308:In June 2011, ABG Shipyard Ltd was awarded a
16:Ahmedabad-based shipbuilding company in India
626:. IBN Live. 19 December 2007. Archived from
462:"Sebi disposes of case against ABG Shipyard"
908:Manufacturing companies established in 1985
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221:in Gujarat. Following its acquisition of
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376:ABG Interceptor Class fast attack crafts
39:Magdalla Shipyard Pvt. Ltd. (1985–1995)
903:Manufacturing companies based in Mumbai
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209:Shipyard Ltd. it is headquartered in
129:Ram Swaroop Nakra (Managing director)
918:Indian companies established in 1985
526:from the original on 4 December 2020
213:. It has shipbuilding operations in
13:
913:1985 establishments in Maharashtra
652:. Rolls-Royce plc. 25 October 2004
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381:ABG Class Pollution Control Vessel
41:ABG Shipyard Pvt. Ltd. (1995–1995)
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769:from the original on 20 July 2017
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893:Shipbuilding companies of India
878:Dr Michiaki Takahashi Biography
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755:Pathak, Maulik (20 July 2017).
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680:. 31 March 2011. Archived from
323:taking its order book to about
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437:"ABG Shipyard Fraud Explained"
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386:ABG Class Cadet Training Ship
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321:Shipping Corporation of India
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131:DP Gupta (Vice president)
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736:. India. 1 February 2012
493:. India. 15 October 2010
359:Bharati Shipyard Limited
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127:Rishi Agarwal (Chairman)
874:Rishi Agarwal Biography
270:offshore supply vessels
391:Pamba Auxiliary Vessel
354:Western India Shipyard
274:diving support vessels
223:Western India Shipyard
89:; 39 years ago
305:for the Coast Guard.
364:Mazagon Dock Limited
262:anchor handling tugs
186:ABG Shipyard Limited
441:insider.finology.in
300:water jet propelled
281:Government of India
266:dynamic positioning
151:Number of employees
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898:Shipyards of India
821:. 13 February 2022
795:. 16 February 2022
677:The Times of India
630:on 26 January 2013
604:. 15 February 2022
577:The Economic Times
551:The Economic Times
519:The Times of India
466:The Economic Times
417:. 14 February 2022
296:Indian Coast Guard
87:15 March 1985
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847:. 10 October 2016
734:Business Standard
684:on 3 January 2013
491:Business Standard
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22:ABG Shipyard Ltd.
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870:Official Website
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258:split barges
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102:Headquarters
78:Shipbuilding
46:Company type
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851:16 February
825:18 February
799:16 February
608:16 February
582:15 February
556:15 February
415:India Today
328:200 billion
317:Indian Navy
313:9.7 billion
285:Indian Navy
198:Maharashtra
145:Ship repair
141:Ship design
111:Maharashtra
887:Categories
397:References
334:Bank Fraud
123:Key people
94:1985-03-15
161:Divisions
56:Traded as
845:VCCircle
767:Archived
524:Archived
370:See also
237:Products
200:,India.
175:abgindia
138:Services
74:Industry
36:Formerly
268:ships,
204:History
170:Website
92: (
84:Founded
773:7 June
740:7 June
530:7 June
471:7 June
446:16 May
421:16 May
211:Mumbai
194:Mumbai
107:Mumbai
343:Peers
219:Dahej
215:Surat
188:is a
116:India
853:2022
827:2022
801:2022
775:2021
742:2021
716:2011
690:2011
658:2011
636:2011
610:2022
584:2022
558:2022
532:2021
499:2011
473:2021
448:2024
423:2024
272:and
217:and
177:.com
155:2000
227:Goa
67:NSE
62:BSE
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