News | ED Attaches ₹106 Crore Assets, Chargesheet Filed Against Ex‑UCO Bank CMD Subodh Kumar Goel in ₹6,200 Crore Fraud Probe

ED Attaches ₹106 Crore Assets, Chargesheet Filed Against Ex‑UCO Bank CMD Subodh Kumar Goel in ₹6,200 Crore Fraud Probe

News

26 July 2025

1 min read

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The Enforcement Directorate (ED) has taken significant action against former UCO Bank Chairman and Managing Director Subodh Kumar Goel, attaching movable and immovable assets worth approximately ₹106.36 crore under the Prevention of Money Laundering Act (PMLA). A supplementary chargesheet was filed on July 11 in a special PMLA court in Kolkata, naming Goel, his family members, close aides, and associated companies in connection with a massive ₹6,210.72 crore loan fraud involving Concast Steel & Power Ltd (CSPL). ED investigations revealed that Goel sanctioned loans exceeding ₹1,460 crore to CSPL, which later turned into NPAs; in return, he allegedly accepted bribes in the form of cash, luxury items, properties, travel expenses and hotel bookings—layered through shell entities and accommodation entries. To date, assets totaling around ₹612.71 crore have been provisionally attached in the case.

Reference: Business Standard