New Delhi, May 19 -- The Enforcement Directorate (ED) has arrested Subodh Kumar Goel, former Chairman and Managing Director of UCO Bank, from his residence in New Delhi in connection with an ongoing investigation against Concast Steel and Power Ltd (CSPL) and others in a bank fraud case, the agency said on Monday.

ED's Kolkata Zonal office arrested Subodh on May 16 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. He was produced before a special PMLA court in Kolkata on May 17 and the court has granted the ED custody of Subodh till May 21.

ED initiated investigation on the basis of the First Informatics Report (FIR) registered by the Central Bureau of Investigation (CBI) relating to the sanction of credit fac...