New Delhi: The Enforcement Directorate (ED) has attached movable and immovable assets valued at Rs 133.09 crore in connection with its ongoing probe into Concast Steel and Power Ltd (CSPL) and promoter Sanjay Sureka for defrauding banks and financial institutions of Rs 6,210.72 crore.
The Kolkata zonal office of ED executed the attachment on October 10 under the Prevention of Money Laundering Act (PMLA), 2002. The investigation followed a CBI-registered FIR against CSPL, its directors, and promoters for alleged financial fraud, including diversion of funds, submission of inflated stock statements, and manipulation of balance sheets.
During the probe, ED found that Sanjay Sureka had purchased properties in the names of relatives, employees, associates, and shell entities. Funds obtained from bank loans were allegedly diverted through group companies to subscribe to debentures of BDG Group of Companies, later converted into equity shares.
Previously, properties worth Rs 612.71 crore linked to CSPL, Sanjay Sureka, and Subodh Goyal, ex-CMD of UCO Bank, had been provisionally attached. Prosecution complaints were filed on February 15 and July 11, 2025, while Sanjay Sureka and Anant Kumar Agarwal remain in judicial custody.
The ED added that investigations have revealed a network of companies involved in layering proceeds of crime, with further scrutiny underway to trace the ultimate beneficiaries of the illicit funds.
