The Enforcement Directorate has attached assets worth ₹2,747.69 crore in connection with the case against ABG Shipyard Limited and others alleging ₹22,842-crore bank loan fraud.
The attached properties include the shipyards located in Gujarat’s Surat and Dahej, agricultural lands and plots, various commercial and residential premises in Gujarat and Maharashtra and bank accounts owned by the company, its group companies and other related entities.
The ED probe is based on a First Information Report registered on February 7 by the Central Bureau of Investigation, which arrested the company’s former chairman-cum-managing director (CMD) Rishi Kamlesh Agarwal earlier this week.
According to the ED, ABG Shipyard and its then CMD took various credit facilities and loans from a consortium of 28 banks on the pretext of meeting its capital requirements and other business expenses. However, the accused persons misappropriated and diverted the funds for unstated purposes. Large amounts were shown to have been given as loans, advance or investment in other projects.
The attached assets belong to ABG Shipyard, its group company, Bermaco Energy Systems Limited, Dhananjay Datar, Savita Dhananjay Datar, Krishna Gopal Toshniwal and Viren Ahuja.