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ED Attaches Rs 106 Crore in Assets of Ex-UCO Bank Chairman Subodh Kumar Goel

It follows his May arrest for allegedly taking bribes to sanction a Rs 6,210.72 crore loan via a network of shell firms.

ED Attaches ₹106 Crore Worth of Assets Linked to Former UCO Bank CMD
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Overview

  • The Enforcement Directorate provisionally attached movable and immovable assets valued at about Rs 106.36 crore to Goel on July 9 in its money laundering investigation.
  • On July 11 the ED filed a supplementary prosecution complaint before a Special PMLA Court in Kolkata against Goel, his family members and close aides.
  • Goel was arrested in Delhi on May 16 over accusations that he approved a Rs 6,210.72 crore loan to Concast Steel & Power Ltd in exchange for bribes.
  • Investigators allege he channeled kickbacks through a network of nine shell companies with cross-holdings and layered the funds to mask their illicit origin.
  • This action builds on previous ED seizures totaling over Rs 612 crore, including about Rs 510 crore in assets linked to CSPL and its promoter Sanjay Sureka.