The Congress on Sunday alleged that people in the highest echelons of the Narendra Modi government were complicit in India’s biggest bank fraud, levelling the accusation after the CBI registered an FIR in the ABG Shipyard scandal after several years’ delay.

Alleged fraud worth Rs 22,842 crore by the Gujarat-based ABG Shipyard, owned by Rishi Agarwal, is said to have affected 28 banks.

Congress communications chief Randeep Surjewala alleged a deliberate delay in action, underlining that liquidation proceedings against ABG Shipyard had started in August 2017. “The Modi government is running a ‘loot and escape’ flagship scheme for bank fraudsters,” Surjewala said.

“The fraudsters’ list includes Nirav Modi, Mehul Choksi, Ami Modi, Neeshal Modi… Vijay Mallya…. and many others with close connection to the ruling establishment.”

Surjewala asked who should be held accountable for the serial frauds and the fraudsters’ success in fleeing India despite the cases being in the public domain.

“The process of liquidation of the ABG Shipyard was initiated in NCLT (National Company Law Tribunal) Ahmedabad in August 2017. On June 19, 2019, the loans and bank accounts of ABG Shipyard were declared as fraud,” Surjewala said.

“On November 8, 2019, the State Bank of India filed a complaint with the CBI for registration of an FIR against ABG Shipyard’s Rishi Agarwal and others. Despite the apparent fraud and swindling of public money, the CBI, SBI and the Modi government proceeded to complicate the entire matter in bureaucratic wrangling and file-pushing. This happened for years as public money went down the drain and fraudsters gained.”

Releasing supporting documents, Surjewala said that on August 25, 2020, the SBI lodged a second complaint with the CBI seeking an FIR against Agarwal and others. On February 7, 2022, the CBI lodged the FIR, invoking charges of cheating and fraud and provisions of the Prevention of Corruption Act.

“The intriguing part is that in the complaint dated August 25, 2020, the SBI (and by implication the finance ministry) exonerated all the bankers. Another intriguing facet is that ABG Shipyard was allotted 121,000 square metres of land in 2007 by the Gujarat government headed by then chief minister Narendra Modi,” Surjewala said.

“The CAG indicted the Gujarat government for showing undue favour to ABG Shipyard by allotting land at Rs 700 per square metre, while the price of land was 100 per cent higher at Rs 1,400 per square metre.”

Surjewala said that despite the adverse CAG report, the Gujarat government headed by Modi went on to allot 50 hectares of land to ABG Shipyard in Dahej. The Dahej project was shut down in 2015.

“Why did it take five years after the liquidation proceedings of ABG Shipyard to lodge even an FIR for duping 28 banks out of Rs 22,842 crore?” Surjewala said.

“Why did the Modi government not lodge an FIR and take criminal action despite ABG Shipyard’s accounts having been declared as fraud on June 19, 2019? Why did the Modi government and the CBI not file an FIR against ABG Shipyard at the time of the first complaint made by the SBI to the CBI, on November 8, 2019?”

Surjewala hinted at proximity between Agarwal and Narendra Modi, saying Agarwal had shared the dais with Modi at the Vibrant Gujarat Summit and committed investments worth Rs 22,000 crore. It never fructified.

“Another interesting fact is that Modi took him to Korea in 2013 in a delegation,” Surjewala said, adding that there was speculation about Agarwal being in Singapore now.

“Only Modi, finance minister Nirmala Sitharaman and home minister Amit Shah can tell us how the fugitives get citizenship in other countries. How did the Modi government give a no-objection (certificate) to Mehul Choksi for getting new citizenship?”

Choksi, accused of swindling Punjab National Bank, had fled India and gained Antiguan citizenship.