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Breaking up ABG Shipyard’s dues to banks
ICICI Bank, IDBI Bank and State Bank of India account for 60% of loans to ABG Shipyard which have gone sour. Here is how much the firm owes to each of the 28 lenders.
ICICI Bank, IDBI Bank and State Bank of India account for 60% of loans to ABG Shipyard which have gone sour. Here is how much the firm owes to each of the 28 lenders.
ICICI Bank, IDBI Bank and State Bank of India (SBI) account for almost 60% of the loans to ABG Shipyard which have gone sour.
ABG Shipyard, which has been booked by the Central Bureau of Investigation (CBI) for allegedly defrauding 28 banks of over Rs 22,842 crore, owes Rs 13,653 crore to these three banks.
While private lender ICICI Bank tops with claims of dues worth Rs 7,089 crore, ABG Shipyard owes IDBI Bank Rs 3,639 crore and the outstanding to SBI is Rs 2,925 crore, as per the FIR filed by the country’s largest bank.
Bank of Baroda comes next in line with ABG Shipyard owing Rs 1,614 crore to the state-owned bank. Exim Bank of India follows with Rs 1,327 crore while the amount owed to Punjab National Bank (PNB) is Rs 1,244 crore.
The other four in the top 10 list are Indian Overseas Bank (Rs 1,228 crore), Standard Chartered Bank (Rs 743 crore), Bank of India (Rs 719 crore) and Oriental Bank of Commerce (Rs 714 crore).
The remaining 18 lenders have dues below Rs 500 crore. Three in the Rs 400-crore range are SBI – Singapore (Rs 458 crore), Syndicate Bank (Rs 408 crore) and Dena Bank (Rs 406 crore).
The other lenders defrauded by ABG Shipyard are Andhra Bank (Rs 350 crore), IFCI Ltd (Rs 300 crore), SICOM (Rs 260 crore), Phonix ARC (Rs 141 crore), SBM Bank (Rs 125 crore), DCB Bank (Rs 106 crore), PNB International (Rs 97 crore), Lakshmi Vilas Bank (Rs 61 crore), Indian Bank, Singapore (Rs 43 crore), Canara Bank (Rs 40 crore), Central Bank of India (Rs 39 crore), Punjab & Sind Bank (Rs 37 crore) and Indian Bank (Rs 17 crore). Yes Bank was at the bottom of the table with Rs 2 crore.
Meanwhile, the CBI said on February 15 that it has issued lookout notices against Rishi Agarwal and other directors of ABG Shipyard in connection with the bank fraud case, to make sure they do not leave the country while the case is probed.
Last week, the CBI filed a case against ABG Shipyard and its then chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly defrauding 28 banks of over Rs 22,842 crore.
"Searches were conducted on Saturday (February 12, 2022) at 13 locations in the premises of the accused including private company, directors at Surat, Bharuch, Mumbai, Pune etc which led to recovery of incriminating documents," the CBI said in a statement.
