In India's Biggest Loan Scam, ABG Shipyard's Ex-Chairman Questioned: Sources

Former chairman of ABG Shipyard Rishi Agarwal has been questioned in connection by the Central Bureau of Investigation in connection with what is said to be the country's biggest bank fraud. Sources said the agency searched his house on Saturday after which summons were issued and he was questioned on Sunday.

The agency is investigating ABG Shipyard Ltd and its former directors Rishi Agarwal, Santhanam Muthuswamy, and Ashwini Kumar, who have been accused of cheating 28 banks out of Rs 22,842 crore.

Yesterday, a money laundering investigation was started against them by the Enforcement Department, in connection with the fraud case.