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Sunday, April 28, 2024
TopicEnforcement Directorate

Topic: Enforcement Directorate

The Enforcement Directorate (ED) is a central agency working directly under the Ministry of Finance, tasked with investigating and enforcing laws related to financial offenses. Its origin goes back to 1 May, 1956, when an Enforcement Unit was formed in the Department of Economic Affairs for handling Exchange Control Laws violations under Foreign Exchange Regulation Act, 1947. The following year, this Unit was renamed as Enforcement Directorate.

The ED’s mandate encompasses investigating offenses under significant legislative frameworks such as the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act of 1999 (FEMA), and the Fugitive Economic Offenders Act of 2018 (FEOA). The agency investigates individuals and entities involved in financial wrongdoing. This may include tracing illicit funds, seizing assets acquired through illegal means, and prosecuting offenders to ensure accountability and deterrence.

Headquartered in New Delhi, the ED operates through a network of regional offices in Mumbai, Chennai, Chandigarh, Kolkata.

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‘Hawala, buying land with crime proceeds’ — why ED has arrested Delhi minister Satyendar Jain

Ananya Bhardwaj -
The Delhi minister has been arrested in connection with a money laundering probe conducted by the ED, following the registration of a 2017 disproportionate assets case by CBI.

ED summons Farooq Abdullah in ‘money laundering’ case linked to J&K Cricket Association

PTI -
The former J&K chief minister Farooq Abdullah has been summoned for questioning in the money laundering case in Delhi on 31 May.

Jharkhand mining secretary Pooja Singhal arrested by ED in 5-yr-old money laundering case

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The case relates to alleged diversion of MGNREGA funds worth Rs 18.6 crore during Singhal’s tenure as the deputy commissioner of Khunti district between February 2009 & July 2010.

Court issues warrant against Abhishek Banerjee’s wife for refusing to join money laundering probe

PTI -
Chief Metropolitan Magistrate Snigdha Sarvaria gave the order after it was told that the accused was not appearing before either the court or the agency despite several summons.

ED recovers over Rs 18 crore in Jharkhand MGNREGA funds fraud case

PTI -
The raids pertain to a money-laundering case in which Ram Binod Prasad Sinha, former junior engineer in Jharkhand govt, was arrested in 2020 under the PMLA.

ED seizes Rs 55.51 billion from Chinese company Xiaomi for forex violation

Sankalp Phartiyal -
The Enforcement Directorate took control of the bank accounts of Xiaomi Technology India under the provisions of the Foreign Exchange Management Act.

ED seizes Rs 5,551 crore from Chinese smartphone giant Xiaomi under FEMA law

ANI -
The seized amount is lying in the bank accounts of Xiaomi Technology India Pvt Ltd, which started its operations in India in 2014 and started remitting the money in 2015.
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