Banking Fraud State Bank of India Nirav Modi

The State Bank of India has launched a complaint against multiple Gujarat corporations alleging fraud of more than Rs. 22,000 crores. This is arguably the largest banking fraud ever perpetrated.

There are two firms titled ABG Shipyard and ABG International Private Limited that are both part of the same group company in the FIR filed by the CBI.

These companies, according to the FIR, cheated a group of banks by breaking norms and regulations. A criminal complaint has been filed against eight people for a scam that occurred between 2012 and 2017.

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