The Enforcement Directorate (ED) has attached assets worth Rs 2,747.69 crore in the ABG Shipyard Limited case.
The attached assets include Shipyard at Surat and Dahej located in Gujarat, agricultural lands and plots, various commercial and residential premises in Gujarat and Maharashtra and bank accounts owned by ABG Shipyard Ltd, its group companies and other related entities.
ED has traced movable and immovable assets totalling Rs 2,747.69 crore belonging to ABG Shipyard Ltd, its group companies, Bermaco Energy Systems Ltd., Dhananjay Datar, Savita Dhananjay Datar, Krishna Gopal Toshniwal, Viren Ahuja and attached them under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The agency initiated a money laundering investigation on the basis of the First Information Report (FIR) dated February 7 registered by the Central Bureau of Investigation (CBI) against ABG Shipyard Ltd and others.
“Investigation by ED revealed that ABG Shipyard Ltd and its Chairman and Managing Director Rishi Kamlesh Agarwal availed various credit facilities and loans from a consortium of Banks led by ICICI Bank, Mumbai on the pretext of meeting its capital requirements and other business expenses but ABG Shipyard Ltd, misappropriated the credit facilities availed from the consortium and diverted the funds for the purposes other than its actual cause in the garb of various loans, advances and investments to various related entities incorporated in India and abroad that eventually caused monetary loss to the tune of Rs 22,842 crores to the consortium,” said the ED in a statement.