Mumbai, April 26 (Bureau) The Enforcement Directorate (ED) on Tuesday made raids at multiple premises in Mumbai, Pune and Surat in connection with a money laundering probe against ship building company ABG Shipyard Ltd in an alleged Rs 22,842 crore bank loan fraud case, officials said. As many as 26 premises were searched in these cities by the ED under the Prevention of Money Laundering Act (PMLA), they said. The Enforcement Directorate had filed a money laundering case in February after studying a CBI FIR against the former promoters of the company.
The CBI had charged ABG Shipyard Ltd and its then chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks of over Rs 22,842 crores. It had also named the then executive director, Santhanam Muthaswamy, directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and another company, ABG International Pvt Ltd, for alleged offences of criminal conspiracy, cheating, criminal breach of trust and abuse of official position.