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The CBI registered a case against Agarwal and few others in February this year and had carried out searches at 13 locations just days after filing the case.  The agency had booked them for criminal conspiracy, cheating, criminal breach of trust under the Indian Penal Code (IPC) and the Prevention of Corruption Act. The case was based on a complaint filed by the State Bank of India (SBI). 

Timeline on how the ABG Shipyard fraud unfolded - CBI has issued look out circulars against ABG Shipyard's accused directors, promoters and public servants to stop them from fleeing India.

This is the biggest case of bank fraud that the Central Bureau of Investigation has registered yet, reports said.