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ABG Shipyard's ex-chief booked in another case

Tribune News Service

New Delhi, January 12

The CBI has registered another case against ABG Shipyard’s former chairman Rishi Agarwal for defrauding a PNB-led consortium of Rs 1,688 crore, officials said today. Vadraj Cement Company, Agarwal and two others have been booked on charges of criminal conspiracy, cheating and criminal misconduct for allegedly causing a wrongful loss of Rs 1688.41 crore to the consortium of banks.

The CBI conducted searches at three locations, including Mumbai and Jaipur, which led to the recovery of several incriminating documents and articles, a CBI spokesperson said.

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