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Subodh Kumar Goel, former CMD of UCO Bank, has been arrested in connection with a bank fraud case against Concast Steel & Power Ltd (CSPL) and others.
The ED investigation has revealed that during Goel’s tenure as CMD of UCO Bank, large credit facilities were sanctioned to CSPL, and, in turn, he got illegal gratification.
The Enforcement Directorate (ED) has arrested Subodh Kumar Goel, the former chairman and managing director of UCO Bank, from his residence in New Delhi. He has been arrested in connection with a bank fraud case against Concast Steel & Power Ltd (CSPL) and others.
The allegation against him is related to CSPL and subsequent large-scale diversion and siphoning off of loan funds amounting to Rs 6,210.72 crore.
The ED case stems from a case registered by the Central Bureau of Investigation (CBI).
The ED investigation has revealed that during Goel’s tenure as CMD of UCO Bank, large credit facilities were sanctioned to CSPL, and, in turn, he got illegal gratification.
Further investigation is underway.
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