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Thursday, May 9, 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.

Saradha case: ED summons Nalini Chidambaram again

PTI -
She was questioned by the ED and the CBI earlier, but sources said she was being summoned again in 'light of new evidence'.

Nirav Modi, India’s most-wanted jeweller, is in UK now; ED moves to extradite him

Ananya Bhardwaj -
Enforcement Directorate initiates the process of extraditing the diamond merchant, wanted in connection with the Rs 11,000 crore PNB fraud scam.

Govt unleashes its caged parrot CBI when under crisis. Sterling scam is no different

Maneesh Chhibber -
Whenever the NDA government faces a crisis, a new development is suddenly reported in investigations involving the BJP’s opponents or its critics.

ED attaches property worth Rs 4,701 crore in money laundering case involving Sandesara group

Ananya Bhardwaj -
Seizures include 4,000 acres of land, plant machinery and high-end cars; group allegedly involved in money laundering worth Rs 5,000 crore

J&K separatist leader Shabir Shah’s daughter Sama tops state in CBSE Class XII exams

Rahiba R. Parveen -
Sama Shabir Shah, who aspires to be a judge, secures 97.8 per cent marks -- 489 out of 500 -- in her exams.

PMO seeks status report on Panama Papers cases by 15 December

Ananya Bhardwaj -
The Enforcement Directorate will issue show cause notices to 426 Indians or persons of Indian origin, seeking explanations for overseas investments made since 2004.

Soon, ED could raid & attach properties for fraud

Ananya Bhardwaj -
Sections 447 & 448 of the Companies Act are set to be included as scheduled offences under PMLA, giving ED the power to recover ‘fraud’ money.

Italian marines case may complicate India’s access to AgustaWestland middleman

Manu Pubby -
After internal meeting, India decides to hire lawyers in Italy; Carlo Gerosa arranged kickback network but had no political connections in India.

78 raids yield just Rs 5 cr, raise questions about NIA’s hunt for Kashmir terror funds

Ananya Bhardwaj -
NIA insists it has found significant evidence of terror funds coming from Pakistan, but it is yet to establish a money trail, which could hurt its case.

Chhattisgarh officers bought forex through impersonation and fraud, says ED probe

Anubhuti Vishnoi -
Additional chief secretary M.K. Raut and OSD P.K. Janawade allegedly acquired $23,380 in the name of 23 persons most of whom didn't even travel with them.
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