In February 2022, CBI detected India's biggest bank fraud of ₹22,842 crore with 28 banks. Who was booked by CBI for this fraud?

Correct option is A

The correct answer ia (A) ABG Shipyard

• ABG Shipyard was one of India’s leading private-sector shipbuilding companies, established in 1985.
• It primarily engaged in the construction of vessels for both domestic and international clients, including commercial, defense, and specialized ships.
• Headquarters: The company was based in Gujarat, India, with its main shipbuilding facility located in Dahej, Gujarat.

Fraud Allegations:

• In 2022, the Central Bureau of Investigation (CBI) filed a case against ABG Shipyard and its promoters for allegedly defrauding a consortium of banks of ₹22,842 crores, making it one of India’s largest banking fraud cases.

Information Booster:

A shipyard is a facility where ships are constructed, repaired, and maintained. It is also sometimes called a dockyard, though dockyards often refer specifically to facilities used for maintenance and repair rather than new construction.

Famous Shipyards Around the World:

• Mazagon Dock Shipbuilders Limited (India): Builds warships and submarines.
• Goa Shipyard Limited (India): Builds naval and Coast Guard vessels.
• ABG Shipyard (India, now defunct): Previously a leader in commercial vessel construction.
• Hyundai Heavy Industries (South Korea): One of the largest commercial shipbuilders.
• Newport News Shipbuilding (USA): Specializes in constructing nuclear-powered aircraft carriers and submarines.