ED has registered a criminal money laundering case against ABG Shipyard Ltd, its former promoters and others for allegedly defrauding a consortium of banks out of more than Rs 22,842 crore, official sources said on Wednesday.
The action comes days after the CBI registered an FIR in the country’s biggest alleged bank loan fraud case.
The ED case was filed under various sections of the Prevention of Money Laundering Act (PMLA) after investigators studied the CBI complaint and forensic audit report, officials said. sources.
They added that the Enforcement Directorate (ED) will look specifically at the alleged “embezzlement” of bank loan funds, the creation of front companies to launder public money and the role of corporate executives and managers. ‘others.
The CBI had booked ABG Shipyard Ltd and its then Chairman and Managing Director Rishi Kamlesh Agarwal and others for allegedly defrauding a consortium of banks out of more than Rs 22,842 crore.
He also named then-Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and fellow company ABG International Pvt Ltd for alleged offenses of criminal conspiracy, cheating, abuse of criminal trust and abuse of official position under the Indian regime. Penal Code (IPC) and the Prevention of Corruption Act.
The defendants in the ED case are the same, they said.
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