In the ABG Shipyard Limited case, the Enforcement Directorate (ED) has attached assets worth Rs 2,747.69 crore.
Agricultural estates and plots, several commercial and residential buildings in Gujarat and Maharashtra, shipyards in Surat and Dahej, as well as bank accounts owned by ABG Shipyard Ltd., its group companies, and other associated entities are among the attached assets.
Under the terms of the Prevention of Money Laundering Act (PMLA), 2002, the ED has located and attached movable and immovable assets worth a combined Rs 2,747.69 crore that belong to ABG Shipyard Ltd, its group companies, Bermaco Energy Systems Ltd., Dhananjay Datar, Savita Dhananjay Datar, Krishna Gopal Toshniwal, and Viren Ahuja.
On the basis of the First Information Report (FIR) dated February 7 filed by the Central Bureau of Investigation (CBI) against ABG Shipyard Ltd. and others, the agency opened a money laundering investigation.
“Investigation by ED revealed that under the guise of various loans, ABG Shipyard Ltd. and its Chairman and Managing Director Rishi Kamlesh Agarwal obtained various credit facilities and loans from a consortium of banks led by ICICI Bank, Mumbai. However, ABG Shipyard Ltd. misappropriated the credit facilities obtained from the consortium and diverted the funds for purposes other than its actual cause.