The Enforcement Directorate (ED) has filed a chargesheet against Subodh Kumar Goel, former Chairman and Managing Director of UCO Bank, in connection with a massive corruption and money laundering case. Goel was arrested on May 16 from his Delhi residence for allegedly receiving bribes and approving fraudulent loans worth ₹6,210.72 crore to Concast Steel and Power Ltd (CSPL).

On July 11, the ED’s Kolkata Zonal Office submitted a supplementary prosecution complaint naming Goel, his family, aides, and associated companies. Just days earlier, on July 9, the agency provisionally attached movable and immovable assets worth ₹106.36 crore linked to Goel and related entities. The total value of attached assets in the case now stands at ₹612.71 crore.

The ED launched its probe based on a CBI FIR filed by the Bank Security and Fraud Bureau (BSFB) in Kolkata. Investigations revealed that during Goel’s tenure at UCO Bank, large loans were extended to CSPL, which were later diverted and siphoned off. In return, Goel allegedly received substantial illegal gratifications.

These bribes were routed through shell companies, dummy individuals, and front entities, masking the criminal origin of the funds. Goel allegedly used the proceeds to acquire properties, luxury items, and fund personal travel, even compelling defaulters to pay for family expenses. A chartered accountant, Anant Kumar Agarwal, was also arrested for facilitating these illicit transactions