- विज्ञापन -
New Delhi: The Enforcement Directorate (ED) has arrested Subodh Kumar Goel, the former Chairman and Managing Director of UCO Bank, in connection with a significant ₹6,210 crore bank fraud case linked to Concast Steel and Power Ltd (CSPL).
Goel was taken into custody from his residence in New Delhi on May 16, 2025, under the Prevention of Money Laundering Act (PMLA).
The investigation, initiated based on a Central Bureau of Investigation (CBI) FIR, revealed that during Goel’s tenure, UCO Bank sanctioned large credit facilities to CSPL, which were subsequently diverted and siphoned off by the borrower group. In return, Goel allegedly received substantial illegal gratifications, including cash, immovable properties, luxury items, and hotel bookings. These illicit benefits were reportedly laundered through shell companies to appear legitimate.
On May 17, Goel was produced before a special PMLA court in Kolkata, which granted the ED custody until May 21, 2025, for further interrogation.
The principal promoter of CSPL, Sanjay Sureka, was previously arrested in December 2024 and remains in judicial custody. The ED has also provisionally attached assets worth approximately ₹510 crore related to Sureka and CSPL as part of the ongoing investigation.
This case underscores the ED’s continued efforts to address large-scale financial irregularities and reinforce accountability within India’s banking sector,
