Kolkata, July 25
The Enforcement Directorate (ED) on Friday said that its Kolkata Zonal office recently issued a provisional attachment order attaching movable and immovable properties valued at around Rs 106.36 crore of Subodh Kumar Goel, former chairman and managing director of UCO Bank, and related entities in connection with an on-going money laundering investigation.
Additionally, a supplementary prosecution complaint was filed before the special court of the Prevention of Money Laundering Act (PMLA) in Kolkata against accused entities, including Goel, his family members, close aides, and other related companies, said the ED in a statement issued on Friday.
“The ED initiated an investigation based on an FIR registered by the CBI, BSFB, Kolkata, against Concast Steel & Power Ltd. (CSPL) and its directors/promoters for defrauding banks/ financial institutions to the tune of Rs 6,210.72 crore (excluding interest) through various fraudulent practices. These malpractices include diversion/siphoning of funds, submission of inflated stock statements, manipulation of balance sheet, etc., and accordingly, the accused persons have cheated the banks/FIs to the tune of Rs 6210.72 crore,” the ED statement read.
Goel was arrested in this case on May 16, 2025, for playing a substantial role in sanctioning loans of more than Rs 1,460 crore to CSPL which later turned into NPA.
“In lieu of sanctioning loans to CSPL, Goel received substantial illegal gratifications in the form of cash, immovable properties, etc., which were routed through a web of shell companies. Evidence also shows the use of accommodation entries and structured layering through front companies for the systematic settlement of kickbacks. Anant Kumar Agarwal, a chartered accountant and close associate of Goel, was also arrested on June 25. 2025 for facilitating accommodation entries, managing shell entities, and routing illegally acquired cash,” the ED statement read.
In this case, ED claimed, properties worth Rs 612.71 crore WERE provisionally attached till date. The key accused persons, namely Sanjay Sureka, Subodh Kumar Goel, and Anant Kumar Agarwal, remain in judicial custody.