BIGGEST INDIAN SCAM IN BUSINESS WORLD

ABG shipyard is a company associated with the ABG group that has been in the business of shipbuilding and repairs since 1958. The company has two shipyards in Gujarat and Rishi Kamlesh Agarwal was its former chairman and managing director.

The company is involved in the biggest banking fraud in India of Rs 22,848 crores, called the ABG shipyard scam. Between 5 years from 2012 to 2017, the company borrowed loans from a consortium of 28 banks but did not use the money for the purpose they borrowed it.