The Enforcement Directorate (ED) on Thursday seized properties and multiple shell companies linked to former UCO Bank Chairman and Managing Director S.K. Goel.
The ED investigation revealed that Goel was residing in a Delhi property, 50 per cent of which was owned by Cast Steel & Power Limited (CSPL)—a company under scrutiny for a Rs 6,210.72 crore bank fraud involving multiple lenders.
Goel allegedly received kickbacks from CSPL through a web of shell companies operated by his family. Using these entities, he is said to have acquired properties worth Rs 75 crore across the Delhi-NCR region.
These assets have now been attached by the agency under provisions of the Prevention of Money Laundering Act (PMLA).
ED’s investigations revealed that the former UCO Bank CMD had approved substantial loans to CSPL during his time at the bank, many of which later turned into non-performing assets.
The fraudulent transactions caused a direct loss of approximately Rs 1,462 crore to UCO Bank alone.
(This story will be updated shortly)
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
