Archive · 2 Jan 2026
₹6,200 Crore Bank Fraud Exposed in Kolkata
A big bank fraud was found in Kolkata.
A businessman named Sanjay Sureka used 60 fake companies to trick banks into giving him ₹6,200 crore.
He made it look like his steel company was doing well, but it was all fake.
A bank official named S K Goel helped him by giving loans without proper checks.
The fake companies had no real work and were run by people like drivers and office boys.
When the fraud was discovered, the banks lost a lot of money.
The police have taken away properties worth ₹106 crore and have recovered ₹434 crore so far.
A ₹6,200 crore bank fraud was uncovered by the Enforcement Directorate (ED) involving Kolkata-based businessman Sanjay Sureka.
Sureka used 60 shell companies to create a false picture of a thriving steel business, with fake sales and transactions.
S K Goel, the then Chairman and Managing Director of UCO Bank, helped Sureka obtain loans without proper checks.
Properties worth over ₹106 crore linked to Goel and his associates have been attached by the ED.
Banks have recovered only ₹434 crore from the fraud, with the collapsed company's assets worth about ₹600 crore.
- Who
- Sanjay Sureka and S K Goel
- What
- A ₹6,200 crore bank fraud using 60 shell companies
- When
- Between 2007 and 2010, with recent investigations and arrests in 2025
- Where
- Kolkata, India
- Why
- To create a false picture of a thriving steel business and obtain loans without proper checks
- Amount Involved
- ₹6,200 crore
- Main Accused
- Sanjay Sureka
- Shell Companies Involved
- 60
- Bank Involved
- UCO Bank
- Bank Official Involved
- S K Goel
- Properties Attached
- ₹106 crore
- Assets Recovered
- ₹434 crore
