The Enforcement Directorate (ED) has filed a chargesheet against former UCO Bank Chairman and Managing Director Subodh Kumar Goel, his family, and associates, accusing them of money laundering in a Rs 6,210.72 crore bank fraud case involving Concast Steel & Power Ltd. (CSPL). On July 9, 2025, the ED attached movable and immovable assets worth Rs 106.36 crore under the Prevention of Money Laundering Act (PMLA), bringing the total assets frozen in the case to Rs 612.71 crore, the agency announced on July 25.

Goel, arrested on May 16, 2025, from his Delhi residence, is accused of sanctioning over Rs 1,460 crore in loans to CSPL during his tenure, which later became non-performing assets (NPAs). The ED alleges Goel received “substantial illegal gratifications” in cash, properties, luxury goods, and services, routed through a web of nine shell companies, including R H Design India Pvt Ltd and Hari Om Consultants Pvt Ltd, controlled by Goel’s family. A chartered accountant, Anant Kumar Agarwal, arrested in June, allegedly facilitated these transactions through accommodation entries and hawala channels. Both remain in judicial custody in Kolkata.

The chargesheet, filed on July 11 before a special PMLA court in Kolkata, names Goel, his family, Agarwal, and related entities. The ED’s probe, initiated from a CBI FIR, revealed that CSPL’s loans were diverted and siphoned off, with Goel’s bribes layered to appear legitimate. Earlier, the ED attached Rs 510 crore in assets linked to CSPL’s promoter Sanjay Sureka, arrested in December 2024. Despite Goel’s bail plea citing health issues like Parkinson’s, a Kolkata court extended his custody until May 26.

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