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The State Bank of India on Sunday said that the consortium of banks, which had made loans to ABG Shipyard, had tried to revive its operations but all efforts failed as it was going through a downturn.
After the Central Bureau of Investigation (CBI) registered an FIR against ABG Shipyard and its directors for allegedly duping 28 banks of Rs 22,842 crore, the State Bank of India on Sunday said that the several efforts were made to revive the company operations could not succeed.
The State Bank of India on Sunday said that the consortium of banks, which had made loans to ABG Shipyard, had tried to revive its operations but all efforts failed as it was going through a downturn.It said that the fraud was mainly attributed .