- विज्ञापन -
Kolkata: The Enforcement Directorate (ED) announced on Monday that Subodh Kumar Goel, the former chairman and managing director of Kolkata-based UCO Bank, received illicit payments in connection with a loan fraud case.
The ED detailed that Goel was given “illegal gratification” by Concast Steel & Power Ltd (CSPL) and its shell companies, which were the main beneficiaries in the bank loan diversion scandal. Investigations showed that during his tenure as CMD, Goel approved large loans to CSPL, which were later diverted and siphoned off by the borrower’s group.
The ED further revealed that Goel received significant illicit benefits—including cash, property, luxury items, and hotel bookings—through a complex web of shell companies, dummy entities, and family members to hide the origins of the funds. The agency identified properties bought via shell companies owned or controlled by Goel and his family, with funding linked to CSPL. Evidence also indicates the use of bogus entries and layered transactions to systematically distribute kickbacks.
Last month, ED authorities raided Goel’s residence and related premises, seizing materials that outline various illegal payments received. The ED has also confiscated assets worth around Rs 510 crore linked to CSPL and its chief, Sanjay Kumar Sureka.
Goel appeared before a special court under the Prevention of Money Laundering Act (PMLA) and has been remanded in ED custody until May 21.
