Rishi Agarwal built ABG Shipyard into a major Indian shipbuilder, capitalizing on a global boom. However, a debt-fueled expansion and the 2008 financial crisis precipitated its collapse. The company entered liquidation amidst allegations of a massive ₹22,842-crore fraud. The author highlights how ABG's downfall wasn't merely market-driven but stemmed from alleged fund diversion, fictitious transactions, and "growth without guardrails." The CBI's investigation suggests deliberate hollowing out of the company, framing it as a case of corporate malfeasance rather than just a bad business bet, similar to other Indian corporate failures rooted in reckless ambition.