The CBI has already conducted searches at 13 locations of the accused including office and other premises of the company and its directors at Surat, Bharuch, Mumbai and Pune among others.
The CBI has issued a look out circular against ABG Shipyard’s directors and promoters, who have been charged by the agency for defrauding 28 banks to the tune of over Rs 22,800 crore.
How ABG Shipyard pulled off India s biggest bank fraud, surprising facts surface - FM Nirmala Sitharaman said while normally it takes 52-56 months to detect bank frauds, lesser time was taken to take action under the Modi government.