Kolkata, Oct 13 The Kolkata Zonal office of the Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth Rs 133.09 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002, on October 2025 in connection with the ongoing investigation against Concast Steel and Power Limited (CSPL) and its promoter Sanjay Sureka, the ED said on Monday.
"The ED initiated investigation on the basis of FIR registered by the Bank Securities and Fraud Branch of the Central Bureau of Investigation (CBI) located in Kolkata against CSPL and its directors/promoters for defrauding banks and financial institutions to the tune of Rs 6,210.72 crore (excluding interest) through fraudulent activities viz. diversion/siphoning of funds, submission of inflated stock statements, manipulation of balance sheet etc," a press statement issued by the central agency said.
During the investigation, ED had claimed that it was established that Sanjay Sureka systematically purchased immovable properties in the names of his relatives, employees, close associates, and shell entities controlled by him.
"It further came to light that the loan amounts obtained from banks by Sanjay Sureka were diverted through his group companies and were used to subscribe to debentures of BDG Group of companies, which were subsequently converted into equity shares," the ED statement said.
Earlier, in this case, properties worth Rs 612.71 crore belonging to various entities related to CSPL and Sanjay Sureka and the former Chief Managing Director of UCO Bank, Subodh Goyal, were provisionally attached.
A prosecution complaint was also filed on February 15, 2025, and a supplementary prosecution complaint was filed on July 11, 2025.
At the same time, the accused persons, namely Sanjay Sureka and Anant Kumar Agarwal, were arrested by the ED.
They are currently in judicial custody.
"Investigations have further brought to light a series of financial transactions with several companies which have been found to be involved in the layering of proceeds of crime generated by CSPL. The role of these companies, their directors, and associated persons is presently under detailed examination to ascertain the full extent of their involvement in the laundering process and to trace the ultimate beneficiaries of the illicit funds," he said.
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