How ABG Shipyard pulled off the BIGGEST Banking Fraud in Indian History? : Business Case Study
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- Опубліковано 2 лип 2024
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VIDEO INTRODUCTION:
On 7th of Februrary, 2022, the CBI booked ABG Shipyard, its directors, and ABG International Pvt Limited for allegedly causing losses of Rs 22,842 crore to a consortium of 28 banks. ABG shipyard which was Once considered to be powerhouse in shipbuilding with an order book of Rs 16,600 crore is now under probe for pulling off the biggest banking fraud in Indian history.Just to give you guys a context how big this fraud is, if you see, Nirav modi pulled off a 11,356 crores scam, Vijay Mallaya pulled off a scam of 9000cr, both of them together account for 20,356cr of scam but ABG shipyard scam alone amounts to 22,842cr.The question is, how does the shipping industry function?what is the story of ABG shipyard?and How did they pull off such a big scam on right in front of the biggest banks in the country
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#thinkschool #abgshipyard #moneylaunderingcase Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times, DW documentary, AL Jazeera English, BBC news, Firstpost. Fair use - This video is for educational purposes only. All materials used in this video, including images, audio, and video clips, are the property of their respective owners and are used here under the doctrine of fair use. This video is intended to provide commentary, criticism, research, and education on the subject matter. We believe this constitutes a fair use of any such copyrighted material as provided for in Section 107 of the US Copyright Law.
Sir, can you please make a video on the 2008 financial recession ??
Yes. This question is a mystery for me.
Please explain it...
Watch " the big short "movie
@@harsha6634 can you suggest that where can I watch the movie
@@ashishbiswal9436 Amazon prime
Good suggestion
The fact that we don't see HDFC BANK in the consortium list shows how well Aditya Sir lead the bank. Legend.
That's y i always go with the consistent profitable and less risky stocks
he knows his stuff welll
HDFC is basically a retail lending bank. It has only a miniscule portfolio of commercial lending. They are basically risk averse or they don't have knowledge of lending to commercial activities
@@adisheshacns1386 i think hdfc started is business with commercial banking...
That's because he is a chor himself!
1 small mistake I want to point out, if a charterer hires a vessel from a shipping company, charterer pays for the fuel (Bunker) and decides the route. Ship owner doesn't not pay for it. It's under charter party agreement.
2nd, container ships cost must more than what you said (50-100crores). Only the engine on my ship cost over 200 crore. Ships price for a size 300-400m varies between 200-300 million dollars.
Looks like a good input bro
@@maritime_maverick where do you work bro
Rightly said
Depends on wether it is a voyage charter or time charter. Moreover ship owner & charterer can agree on any terms & condition.
Bro. Really amazing and well documented. Even a common man can understand this document in simple words and multiple illustrations. Keep it up and Best Wishes to give much more interesting and sensational subjects like this
Good one. Noticed one mistake. At 6.53 you mentioned that ABG had capacity to build ships up to 20 Tons in weight. That is hugely understated. A full shipping container of 20 foot weighs over 20 Tons. ABG probably was capable of building ships over 20,000 Tons in weight
agree 20 tons is nothing as one truck carry 20 tonns
Maybe he was talking about a single container and not about the total capacity.
@@PradeepSinghRajputOfficial he said vessels
A container measures either 8ft by 8ft by 20 feet or 8ft by 8ft by 40 feet. The weight of the container depends on the cargo is stuffed inside.
Secondly , a ship has a light weight and a deadweight.
Deadweight is the amount of cargo that can be carried. Lightweight is the Deadweight -fuel-water-lubes etc. Basically, just the weight of the steel.
So, in this case a ship cab have a light weight of 20mt but a Deadweight of 20000 mt.
@@Omnamahshivay8079 - dear Satyakam. You are right about container/s. But your idea about the relationship between ships lightweight and deadweight/carrying capacity, is grossly out of line. You surely are not a mariner
Such an important case, explained in simplest possible way, Kudos!
Anyone can understand any CASE you explain and the "Cherry on the Cake" is that, you even explain how industry works ❣️ Any person from any field can understand it very well.
Thank you.
❤️❤️
Amazing video ,audio and everything. And, I have been following you for so long now and never stop myself from sharing these amazing videos. Thankyou very much ThinkSchool....learnt a lot from you❤️
Thank you for such a well explained video!
Its great how you explain even the smallest things, making it easy to follow.
The amount of research these guys do is phenomenal, wishing all the best and thanks for another informative video 😇
Very nicely and concisely explained. All your videos are straightforward in understanding. Keep up the good work. 👍
I' m surprised how can one gather this much information! Profound video 👏👏👏
Great job son! You are brilliant! Making videos so interesting and factual that even a layman could see what's happening. The amounts that involve jn su h huge scams however is beyond a layman to figure or understand😀 I recommended your videos to my students to watch abd understand. Keep up the good work
thoroughly enjoyed the video, thank you so much for this!
Excellent analysis and thanks for spending lot of time on that and sharing it with us
Great video. I post this Appreciation for this channel's videos while beginning the video watching itself. That's the level of confidence I have on this guy's videos
Such a Clear, Simple presentation. Wonderful.
Your videos are damn detailed, man! Keep up the good work!
Amazing. Deep and Detailed case study. Far Better than others.
As always, Fantastic delivery Ganesh.
Very insightful. Great!
Amazing video bro, the editing also looks like it improved a lot with better animations.
You make case studies so easy to understand
Great work!
I must say the kind of content he makes and the frequency at which he makes the them really amazes me , he 's just a 2019 btech graduate , just a year older than me , but the kind of analysis and explanation he provides , hats off sir , and all of this for free??!!!
My salute and respect SIR .
as always too good and no one can stop watching your video midway
Great Video, I love your content
I am curious to know how you do your research work for the case study.
Loving you channel! Keep up the amazing work 👌
Simply...Can't say Simply Big salute to think school...Hats off...:)
Wow, Think school never disappoints
Ganesh bhaiya can you please make a video on Astral Ltd since 2007 it has given mind blowing return of 34000% they were so consistent and just want to know about the company's past, strategies and future plans
Thanks Think school for great content ❣️
Hey bruh, great research 👌👌👌
A similar video on how Fraudster Anil Ambani could escape Prison and also not pay will be more interesting. May be NCLT provisions comes into rescue
Also, why no Vodafone Idea type restructuring had not happened
Does India have separate way of working for those who are Politically close ?
Thank you sir for providing us with such valuable information.
Amazing content! Love the presentation too.
So much better than any news channel! :)
Well explained, thank for this video.
Bro please make a video on 2008 recession.!
I'm so happy that your channel reached 1million subscribers we need more guys like you
also thank you for making these videos
Great video.. I was hoping for a more detailed video and some more facts figures but still a great video
Great Video!! could you also explain this? What happens after scams like these? What do banks do to recover their money? Could it be recovered? How will it affect a common citizen?
What happens after scams like these?
A) It becomes headlines in news for sometime, a case in court which will take forever to come to judgement,
A lot of investigation and paper work and then the scam becomes a case study and history ....until it repeats sometime in future.
What do banks do to recover their money?
A) No they will not, they will write it off as loss over a period of time from future profits.
The future profits will be made from retails customets like salaried employees.
Could it be recovered?
A) only if the scammer is a fool, usually if the assets are within india, they will be seized.
if they are overseas very rare chances.
How will it affect a common citizen?
A) Common citzens pay for it by supporting banks to make more profits and getting cashback on credit cards.
Thank you for sharing this information. It's really important for us to know about these things 🙂
Bawa mast content..🤘🤘 good detailed study and understanding on the subject.... Keep it up.. 👌👌
Great video bro..
Keep posting more videos like these...
U engage the viewers.All l the best.In these day when our attention time is less than 20 sec u keep us glued for 20 min.
Very informative and simplified content . It is very important for a overall business understanding for today’s young generation
In-depth and easy explanation thankyou 🙌👏
Great.....Wonderful work
Thank you.. for explaining so nicely.. Well done..
You make everything so simple n charming
You are doing some GREAT WORK!
Really Informative
Good working my friend. Nice video.
Very well narrated and thanks...
Great video with another domain you taught about.
This is first time that I have taken advertisement for serious and took skillshare Subscription.
I really look forward to you
Good content bro it feels like lesson learned 🙌
Good presentation in a lucid manner.
commendable
super video..keep making video on such fraudsters.
why dont governments of any period is unable to catch such scammers..🤔🤔🤔🤔
Thanks for such a clear articulation!
Beautifully explained!
Ok man..
Finally subscribed.... You earned it.
Brilliant explanation!!
Kudos to all those who have engaged in recording n editing the video.
May God bless u with millions n millions of subscribers!!!
Your each and every video is valuable and worth our time... Grateful to you for unique and inspiring content... Thank you❤🌹🙏 😃
excellent report brother, appreciate it
i like the way you said your content is very good and this video is very informative and helpful for everyone
Great video sir 👍
As usual some great stuff, can you please make video on AWS how it is making money and all
As usual amazing !!!
Best one is yet to come !!
Good information. Thank you
Great work 👍👍
Good detailed insights about the scam.
Thank you for this video !!!
Ganesh Prasad ji
Can you make video on how to implement the learning in practical 😊🙏🏻
Really very great explanation
Great work i appreciated..👏
Nicely Explained.
Very well explained
amazing quality content.. just found the channel now..
very well put
Glad that this channel is growing ...🥀❣️
Congratulation on million subscribers 🎊
Very good explanation!
Your content are amazing😍😍😍
How do you do your research???
Sir please make video on companies who failed because of competition or any other mistakes, so we can learn more about , what mistake should not be done. I'm just of 14 love your video which give great lessons, which open my mind. Thank you soo much. One thing I want to tell, we trust you a lot but, don't break this trust. Your lessons mean a lot to me, thanks a lot❤
very nice explanation
Wonderful!!
Fantastic. Thank you
Basic mistake is Banks do not lend based on past or present financials for Business loans unlike retail lending. Banks lend money to corporates based on future projections. Dont say that Bankers have not done due diligence as if you have read the entire appraisal notes of each and evey Banks that have financed ABG. ABG Shipyard would have got some new orders for which Banks would have funded. And these sort of big ticket loans are approved not by a single person but by the Committee containing the Board, MD, EDs and GMs of the respective Banks. The projected financials would have been viable. Banks also take external professional assistance from firms to conduct TEV study. And lending doesnt work like how u analysed current assets and current liablties. There are lot more than that before taking a credit decision. The company has fooled the Bankers and had taken the money.
“The company had fooled the bankers”!!! How educated and competent are these bankers then if they are so easily fooled?? One would have thought they would have tightened up their due diligence processes given the history of past scams in India!! Don’t they learn???
Milli bhagat sabki and other considerations n recommendation.
😊👍
Congrats for 1M+ subscribers ☺️🎉
Good Explained!!
Your videos are incredible. I just wish that you never run out of content, ideas.
Please consider making video on some healthcare entrepreneurship venture.
Great video buddy...
Great video 👍
Great Video💙👌
Congratulations for 1 million ..this channel deserves to be in the top for your hardwork that you put in
Yet another amazing video 🔝 Love from Nepal
Jldi jldi notes bana leta hu, fir GK class bunk bhi toh krna hai. Thank you Think School.
Thanks for the video
Great explanation
Moral of the story 'Don't do Scams'😅😂
Content is as always amazing 🤠 🤩
@deesh Rathi: and Hang those who do scams and support to do it
Good information thanks
Finally 1 million subscribers. keep growing sir 😍😍
Thank you for the video 🙂
I still wonder how ICICI bank, the one great private bank which is so growth focused, handed alone a loan of 7k crores with clearly assets amounting to half of its loan price. I think it was a "Bring your kids to work day" when this loan was passed.
Commision to mamagers
When PMO calls you comply or you're fucked.
@@shobhitsonkar5 all happened in Congress rule
Now it's is just a spill over
Check SBI blance sheet
@@rohitkarkera4579 ABG Shipyard Loans financed during FY 2014-15 Only increased from 26887.10 cr to 39096.80 cr and in FY 2015-16 from 39096.80 cr to 45972.29.
Whose government was during 2014-15 and 2015-16?
Also 45972.29-26887.10=19085.19
This difference is up to march 2016. Account was declared NPA on account of fraud on 30th June 2016. More amount was lended upto 30th June.
@@shobhitsonkar5 that was the interest accumulating after 2014
The loan was given before 2014 too
First of all, I would commend the brains behind the ABG Scam, but more on that at the end of the comment...
Right now, this video has been informative and helpful as always...if there's ever an IPO of ThinkSchool, no need to ask me, just count me in...
Lots of Love n Respect to the TS team❤️
Also, in business, there's no black and white, only different shades of grey..
IPO ? IPO for what ? 😹😹
IPO for an educational venture that revolutionizes the system of learning in India, and I don't mean companies that provide the "2-teacher advantage". ThinkSchool has the capability to reach out to wider audiences (although even we are partly responsible for it), and it has always maintained and even upscaled the quality of their videos consistently... Looking at these figures + the sentiment value, I think TS would be a smart investment if ever it reaches that destination 😉
Companies need to go to capital markets to dilute equity and raise debt. TS is reasearch based company. There will be no end use of funds which can lead to another scam :p
bro it will be great learning for me/us if you explain how did banks factored in such a huge loss. the scale of amount was soo huge even the insurance company covering such loans would have doomed.