ABG Shipyard bank fraud: Cong alleges BJP used Vibrant Gujarat to 'influence' bankers

The Congress claimed that ABG Shipyard used MoUs it signed with the Gujarat government during the 'Vibrant Gujarat' investors' summits to "influence" banks and secure loans of crores of rupees from them to commit the "biggest bank fraud".

The party alleged that those who managed the affairs of ICICI Bank at that time, would visit Vibrant Gujarat Global Investors' Summits, and "blindly" offer loan to the company despite knowing about the fraud.

Speaking to reporters, Congress's Rajya Sabha member from Gujarat, Shaktisinh Gohil, demanded a judicial inquiry into the fraud case and also asked the BJP government in the state to take back the land given to the company in Surat at token rate to set up a maritime university, of which "not even a brick is laid."
"Gujarat government entered into MoUs worth crores of rupees with the man (Rishi Agarwal), who shared stage with the chief ministers during all the Vibrant Gujarat summits right from 2003 till 2015. These MoUs were used by ABG Group to influence the banks to carry out the biggest fraud," he said.

Congress general secretary and chief spokesperson Randeep Surjewala alleged that the Modi government is running a "loot-and-escape" scheme for bank fraudsters and cited Nirav Modi, Mehul Choksi, Lalit Modi, Vijay Mallya, Jatin Mehta, Chetan and Nitin Sandesara, and several others who fled the country after duping Indian banks.

He said Agarwal and others are the "new gems" in the list.

"Complicity, collusion and connivance of those sitting in the highest echelons of power in the Modi government is writ large in India's biggest bank fraud involving ABG Shipyard and its promoters," Surjewala alleged at a press conference here.

Congress leader Rahul Gandhi also alleged that bank frauds to the tune of Rs 5.35 lakh crore have taken place during the BJP government and that these are good days only for Prime Minister Narendra Modi's "friends".

On February 7, the Central Bureau of Investigation (CBI) booked Gujarat-based ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by the ICICI Bank of of Rs 22,842 crore.