Latest news with #UCOBank
Time of India
11 hours ago
- Time of India
FIR against 40 ‘mule' accounts registered
Ranchi: In a bid to curb cybercrimes, the Criminal Investigation Department (CID) on Tuesday lodged a case under various sections of the BNSS and the IT Act against 40 mule accounts, which are being used for illegal transaction of money across Jharkhand. Tired of too many ads? go ad free now The case has been lodged with the cyber police station on basis of complaints lodged by Dy SP Neha Bala. The accounts are in various banks including UCO Bank, IndusInd Bank, HDFC and Punjab National particularly from abroad are hiring the mule accounts of local people for transferring defrauded money. Information about these accounts were received from the Samanvaya portal of Indian Cybercrime Coordination Centre, a unit of the Union ministry of home affairs. DGP Anurag Gupta said, "The case has been registered regarding mule accounts having illegal transaction worth Rs 10,000 lakh and above. Investigation would be started to ascertain the persons holding the accounts for taking further action. With the registration of the case, police would be better placed to secure details of the account holders from the banks." Police stated that it would act against the persons who gave their accounts on basis of commission from the defrauded amounts.
Time of India
4 days ago
- Business
- Time of India
ED attaches assets worth Rs 106cr of UCO Bank ex-CMD, associates
NEW DELHI: The ED on Friday said it has attached assets worth over Rs 106 crore belonging to former CMD of UCO Bank SK Goel, his family members and associates as part of an ongoing money laundering investigation against him. Earlier on July 11, a supplementary chargesheet was filed against Goel before a special PMLA court in Kolkata. Assets worth Rs 613 crore have been provisionally attached in the case so far. The key accused in the case - Sanjay Sureka, SK Goel and Anant Kumar Agarwal - remain in judicial custody. The probe against Goel began after ED found allegations of bribery against him in a Rs 6,211-crore bank fraud case. This was based on an FIR registered by CBI in Kolkata against Concast Steel & Power Ltd (CSPL) and its directors/promoters for defrauding banks and other financial institutions of Rs 6,211 crore, excluding interest. The CSPL promoters were accused of siphoning bank funds by submitting inflated stock statements, manipulating balance sheets, etc. Goel, ex-CMD of UCO Bank, was arrested in the case on May 16 for allegedly "playing a substantial role in sanctioning loans of more than Rs 1,460 crore to CSPL, which later turned into NPA". "In lieu of sanction of loans to CSPL, Goel received substantial illegal gratification in the form of cash, immovable properties, etc., which were routed through a web of shell companies. Evidence also shows the use of accommodation entries and structured layering through front companies for systematic settlement of kickbacks," the agency said. Anant Kumar Agarwal, a CA and close associate of Goel, was arrested on June 25 for facilitating accommodation entries, managing shell entities, and routing illegally acquired cash.
Hindustan Times
5 days ago
- Business
- Hindustan Times
ED files chargesheet against ex UCO Bank CMD Goel; attaches ₹106-cr assets
New Delhi, A chargesheet has been filed against arrested former UCO bank CMD Subodh Kumar Goel and his family members, and his properties worth ₹106 crore have been attached under the anti-money laundering, the Enforcement Directorate said on Friday. ED files chargesheet against ex UCO Bank CMD Goel; attaches ₹ 106-cr assets Goel was arrested by the federal probe agency in May from his home in Delhi in an alleged bank loan fraud case of more than ₹6,200 crore linked to a Kolkata-based TMT bars supplying company named Concast Steel & Power Ltd. . He is currently lodged in a Kolkata jail under judicial custody Movable and immovable assets of Goel worth ₹106.36 crore were attached as part of a provisional order issued under the Prevention of Money Laundering Act on July 9, the agency said in a statement. It added that a fresh chargesheet was also filed before a special PMLA court in Kolkata on July 11, and Goel, his family members, close aides and related companies have been named as accused. The former UCO Bank boss was arrested for playing a "substantial" role in sanctioning loans of more than ₹1,460 crore to CSPL, which later on turned into an NPA . "In lieu of sanctioning loans to CSPL, Goel received substantial illegal gratifications in the form of cash, immovable properties, luxury goods and services routed through a web of shell companies," the ED said. Evidence, it alleged, also shows the use of accommodation entries and structured layering through front companies for systematic settlement of kickbacks, it said. A Chartered Accountant named Anant Kumar Agarwal, an alleged close associate of Goel, was also arrested by the agency in June for "facilitating accommodation entries, managing shell entities, and routing illegally acquired cash." Agarwal, too, is lodged in jail at present. With the latest attachment, the total freezing of assets in the case stands at ₹612.71 crore, according to the ED. This article was generated from an automated news agency feed without modifications to text.
Indian Express
5 days ago
- Business
- Indian Express
ED attaches former UCO Bank chairman Subodh Kumar Goel's properties worth Rs 106 crore
Two months after the Enforcement Directorate (ED) arrested Subodh Kumar Goel, the former chairman and managing director of UCO Bank, in connection with a case of alleged corruption and money laundering, the agency has attached his properties worth around Rs 106 crore. Goel was arrested from his residence in Delhi on May 16 for allegedly taking a bribe and approving a loan of Rs 6,210.72 crore to Concast Steel and Power Ltd (CSPL). Now, ED has also filed a prosecution complaint against him, alleging that he created a complex web of nine companies with cross holdings to receive kickbacks. A source said ED has attached several immovable properties worth Rs 106.3 crore, and all were owned by Goel. According to ED, the investigation began based on an FIR filed by the Central Bureau of Investigation (CBI), Bank Security and Fraud Bureau (BSFB), Kolkata, regarding the sanction of credit facilities to CSPL and the alleged diversion and siphoning of Rs 6,210.72 crore (excluding interest). 'Probe has revealed that during the tenure of Goel as CMD of UCO Bank, large credit facilities were sanctioned to CSPL by UCO Bank, which were subsequently diverted and siphoned off by the borrower group. In turn, Goel received substantial illegal gratifications from the CSPL,' an ED spokesperson alleged. 'Probe has also revealed that the illegal gratification was layered and channelled through various entities to give a facade of legitimacy. Investigation has also revealed that Goel received cash, immovable properties, luxury goods, hotel booking, etc., routed through a web of shell companies, dummy persons and family members to conceal the criminal origin of the money,' the spokesperson alleged. According to the ED, its probe found that Goel received bribes from an iron ore company, a loan defaulter, and used the funds to buy property. 'He also forced the loan defaulter to fund his family's travels and purchase of personal items such as goggles and dry fruits,' the agency claimed.
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Business Standard
5 days ago
- Business
- Business Standard
SBI Card to discontinue Rs 1 cr air insurance on these cards: Check list
SBI Card will on August 11 discontinue complimentary air accident insurance cover of up to Rs 1 crore for a wide range of co-branded credit cards. Earlier this month, the company withdrew air accident insurance benefits on SBI Card ELITE, SBI Card PRIME and other cards. Who is impacted? The new announcement will impact variants of ELITE and PRIME cards, which are offered in partnership with public and private sector banks. These complimentary covers were one of the major perks associated with premium card offerings. List of SBI cards losing Rs 1 crore insurance benefit: UCO Bank SBI Card ELITE Central Bank of India SBI Card ELITE PSB SBI Card ELITE Allahabad Bank SBI Card ELITE Karur Vysya Bank (KVB) SBI Card ELITE KVB SBI Signature Card List of SBI cards losing Rs 50 lakh insurance benefit: UCO Bank SBI Card PRIME Central Bank of India SBI Card PRIME PSB SBI Card PRIME KVB SBI Card PRIME KVB SBI Platinum Credit Card South Indian Bank SBI Card PRIME South Indian Bank SBI Platinum Credit Card Karnataka Bank SBI Card PRIME Karnataka Bank SBI Platinum Credit Card City Union Bank SBI Card PRIME Allahabad Bank SBI Card PRIME UBI SBI Platinum Credit Card OBC SBI Visa Platinum Card Federal Bank SBI Platinum Credit Card Bank of Maharashtra SBI Platinum Credit Card What has changed already Earlier in July, SBI Card air accident insurance cover from its own-branded cards, including: SBI Card ELITE SBI Card Miles ELITE SBI Card Miles PRIME SBI Card PRIME SBI Card Pulse The Rs 1 crore and Rs 50 lakh insurance covers were provided free of cost and did not require any separate application. Cardholders relying on this complimentary insurance should now consider buying a standalone travel or personal accident insurance policy if air travel risk coverage is important. It's also advisable to check your card's updated terms and conditions or speak to customer service to understand the full implications.
