ABG Shipyard established in 1985, which was once the powerhouse in shipbuilding, has found itself behind India’s 'biggest bank fraud'. The Central Bureau of Investigation, acting on a complaint filed by the State Bank of India (SBI) on August 25, 2020, and on the basis of the complaint, the necessary investigation was done and registered an FIR in the loan scam case on February 7, 2022. It is assumed that ABG Shipyard has conducted bank loan fraud from various banks simultaneously to an astonishing figure of 22842 crores. The major banks include SBI, ICICI, HDFC, PNB, IDBI, Bank of Baroda, Indian Overseas Bank, etc. According to CBI's statement in the case, the shipbuilding firm has availed loans since 2005, but the account turned NPA in 2013 as the company fell prey to the global financial crisis of 2008, resulting in the company becoming a non-performing asset. It is also understood that ABG Shipyard has diverted its fund to other companies and also is guilty of using in