Archive · 25 Jul 2025
ED Attaches Assets of Former UCO Bank Chairman Subodh Kumar Goel
Imagine a bank boss named Subodh Kumar Goel, who ran UCO Bank.
He's in trouble!
He's accused of taking a bribe and letting a company called CSPL borrow a HUGE amount of money.
The government thinks he took the money and hid it.
They've now seized properties worth a lot of money that he owned.
Investigators say he used various tricks to hide the money, like creating fake companies and paying for family trips.
The investigation started because someone thought something fishy was going on with the loans, and now they're looking into where the money went.
ED attached properties worth Rs 106 crore belonging to former UCO Bank chairman Subodh Kumar Goel.
Goel was arrested on May 16 in Delhi for allegedly taking a bribe and approving a loan to Concast Steel and Power Ltd (CSPL).
The ED filed a prosecution complaint against Goel for allegedly creating a web of companies to receive kickbacks.
The investigation began based on an FIR regarding credit facilities sanctioned to CSPL, and the alleged diversion of funds.
Goel allegedly received illegal gratifications and used funds to buy property and cover family expenses.
- Who
- The Enforcement Directorate and Subodh Kumar Goel.
- What
- The Enforcement Directorate (ED) attached properties of Subodh Kumar Goel, former UCO Bank chairman, worth Rs 106 crore.
- When
- Two months after Goel's arrest on May 16.
- Where
- Delhi
- Why
- Due to alleged corruption and money laundering related to a loan approved for Concast Steel and Power Ltd (CSPL).
Allegations
Possible Defense
Bribe
Allegations
Goel took a bribe.
Possible Defense
Goel denies the allegations and may state innocence until proven guilty.
- Person Involved
- Subodh Kumar Goel
- Previous Role
- Former Chairman and Managing Director of UCO Bank
- Allegations
- Taking bribes, approving fraudulent loans, money laundering
- Loan Amount
- Rs 6,210.72 crore
- Company Involved
- Concast Steel and Power Ltd (CSPL)
- Action Taken
- Properties worth Rs 106 crore attached by ED
- Arrest Date
- May 16