The Central Bureau of Investigations (CBI) has questioned nearly half a dozen bank officials in connection with its ongoing probe into the country’s biggest bank fraud involving Surat-based ABG Shipyard, which has duped a consortium of 28 banks to the tune of Rs 22,842 crore. These bank officials were questioned about the loans given to the company, but the CBI is reportedly not convinced with their explanations.

Now, the country’s top watchdog is hot on the heels of leading ICICI Bank officials who gave a generous loan to the bankrupt ABG Shipyard. Former top officials of ICICI Bank, including Chanda Kochhar , are likely to be summoned to explain on what basis the bank cleared such a huge loan to the company.

As per a source, after ICICI Bank, the investigating agency will also call State Bank of India officials to record their version. The CBI is interested in knowing how the banks kept on giving loans to ABG when it was not getting any orders and was financially haemorrhaging. The banks later decided to convert part of the loans into equity, which resulted in their owning a 51 per cent stake in a ‘dud’ company. ABG Shipyard sank by 2016, with the banks losing over Rs 23,000 crore in loans.