Subodh Kumar Goel, the former Chairman and Managing Director of UCO Bank, has been taken into custody by the Enforcement Directorate (ED) as part of a broader probe into an alleged bank fraud involving Concast Steel & Power Ltd (CSPL) and other entities.

Goel was apprehended from his residence in New Delhi on May 16 by officials from the ED’s Kolkata Zonal Office, reported ANI. His arrest falls under the legal framework of the Prevention of Money Laundering Act (PMLA), 2002.

Following his detention, Goel was presented before a special court dealing with PMLA cases in Kolkata on May 17. The court subsequently granted the ED custody of the former banking executive until May 21, allowing further interrogation and investigation in connection with the ongoing case.

The arrest marks a significant development in the ED’s ongoing efforts to uncover financial irregularities linked to Concast Steel & Power Ltd. While details of Goel’s specific role in the case have not been disclosed, his position at the helm of a major public sector bank during the period under scrutiny has drawn considerable attention.

(This is a developing story.)