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Business Standard
02-05-2025
- Business
- Business Standard
100 PMLA courts in country but money laundering trials delayed: ED
Timely completion of money laundering case trials continues to face several "systemic" and "procedural" hurdles, even though there are 100 special PMLA courts across the country, the Enforcement Directorate has said in its latest report. The federal probe agency has been regularly targeted by political parties in the opposition, alleging that its actions were biased and the conviction rate was "poor" -- a claim strongly refuted by the organisation. ED Director Rahul Navin defended the track record of his agency during an event held here on Thursday to mark the 'ED Day', saying its conviction rate was more than 93 per cent. Same day, the ED also released its first-ever annual report, where it devoted a specific chapter to 'Challenges in Expeditious Completion of PMLA Trials'. Till now, the estimate of yearly work done by the agency was clubbed in the 'Annual Report' of the Union finance ministry under which the ED works. "While the legal framework under PMLA (Prevention of Money Laundering Act) provides for a structured mechanism for prosecution, the timely completion of trials continues to face several systemic and procedural hurdles," the report for the 2024-25 financial year said. It said a "primary challenge" was that prosecution of money laundering cases is "intrinsically" linked to the progress of the investigation or trial of the corresponding predicate offence. "Delays in those proceedings invariably impact the PMLA trial," the report said. According to the scheme of the Prevention of Money Laundering Act (PMLA), which came into force in 2005, the ED cannot register an independent case but has to base its complaint on a primary FIR of the police or any other such investigating agency, which is called the predicate offence. The report said money laundering investigations typically involve "complex" financial structures, a large volume of financial data and often cross-border transactions. This demands intensive forensic analysis and extensive documentation, thereby prolonging the scrutiny required during the trial. The volume and complexity of evidence significantly contribute to delays, it said. The report said that despite the establishment of 100 special PMLA courts across the country, judicial resources remain stretched as many of these courts are also burdened with cases under other statutes. "Trials are frequently interrupted by the filing of interlocutory applications, writ petitions and bail matters -- some of which reach the high courts and the supreme court, thereby impacting the continuity and expeditious disposal of trials under the Act (PMLA)," it said. The ED chief too had reiterated the same points during the 'ED Day' event saying delays in the adjudication of money laundering cases "can be attributed to the general delay in the judicial system but is also on account of the inherent complexity of money laundering investigations and the procedural linkages with the trial of the predicate offence." He defended the ED's prosecution record, saying "of the 47 cases decided so far, there have been only three acquittals, yielding a commendable conviction rate of 93.6 per cent." He made a "candid acknowledgement" that several PMLA investigations were pending for a "very long" time, and one of the "focus" areas this year for the ED would be to undertake efforts to complete the investigation and file the final prosecution complaint and prayer for confiscation of criminal property before the special courts. The report gave figures, saying the ED registered a total of 7,771 ECIRs (enforcement case information reports) between 2005-2025, and it filed prosecution complaints in only 1,739 cases. The report did not say how many ECIRs, the ED equivalent of a police FIR, were clubbed or closed. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hans India
02-05-2025
- Politics
- Hans India
Over 1,700 cases in trial stage: ED
New Delhi: Over 1700 money laundering cases probed by the Enforcement Directorate (ED) are currently in the trial stage and the delay in courts can be attributed to the general delay in the justice system in the country, Enforcement Directorate Director Rahul Navin said on Thursday. The top officer of the Enforcement Directorate, however, said the conviction rate of the Enforcement Directorate cases was 93.6 per cent as out of 47 cases decided by courts till now, there have been only three acquittals. A total of 1,739 cases of PMLA are under trial at present and the delay in prosecution in the money laundering cases can be attributed to general delay in the justice system in the country, he said while addressing the Enforcement Directorate Day event held here. Navin said he "candidly" acknowledges pending investigation in PMLA cases, saying it will be the agency's efforts to file chargesheets in such cases before courts. He said the Enforcement Directorate will use advanced technology and forensics in its investigations. The federal probe agency has completed 69 years of its existence as it was established on May 1, 1956.
Time of India
01-05-2025
- Business
- Time of India
Delays in judicial system, complex probes prolong trials: ED
NEW DELHI: Crime should not pay and criminals must not be allowed to enjoy proceeds of crime, ED director Rahul Navin said on Thursday while addressing a gathering of senior officers and representatives from foreign enforcement agencies at the Enforcement Directorate foundation day meet here. He said the central agency remains steadfast in its mission to prevent the proceeds of crime from entering legitimate financial channels. Citing data from ED investigations, the director said during 2024-25, assets worth Rs 30,036 crore were attached, a 141% increase over the previous year, while the number of attachments recorded a 44% increase. The total attachments of assets, so far, stands at Rs 1.55 lakh crore. Last year, ED had registered 775 new investigations under Prevention of Money Laundering Act, up from an average 511 annually during last decade. To expedite trials of money laundering cases, ED in the last 12 months has filed a record 333 prosecution complaints (chargesheets). "Till date, ED has filed prosecution complaints in 1,739 cases, which are at present at various stages of trial. Delays in the adjudication of these cases can be attributed to the general delay in the judicial system and are also as a result of the inherent complexity of money laundering investigations as well as procedural linkages with trial of a predicate offence," the director said. To ensure attached assets remain productive, the agency recently started a drive for restitution of these properties to their rightful beneficiaries and compensate victims under the non-conviction-based confiscation and restitution provisions of the PMLA and the Fugitive Economic Offenders Act (FEOA). Restitution of Rs 15,261 crore, with the approval of courts, was done in 30 cases in the last financial year, Navin said, adding that it will further accelerate this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo "We acknowledge candidly that several PMLA investigations are pending for a very long time, and one of the focus areas this year, would be to undertake efforts to complete the investigations," he said, admitting that long-pending probes may fail to create deterrence, and instead attract criticism.
Indian Express
01-05-2025
- Business
- Indian Express
14 individuals declared fugitive economic offenders under 2018 law: ED report
ED Director Rahul Navin said the 2018 law was a significant step in India's efforts to combat economic offences, particularly those committed by individuals who believed that they could evade prosecution by fleeing the country. 'The ED filed applications to get 24 individuals declared as fugitive economic offenders until now, and 14 of them were declared so,' he said. Others on the list of 14 are Sandesara Group promoters Nitin, Chetan and Deepti Sandesara; Hitesh Patel, an accused in the Rs 8,100-crore bank loan fraud linked to Gujarat-based Sterling Biotech group; Zylog Systems Ltd promoters Sudarshan Venkataraman and Ramanujam Sesharathnam, the report said. According to the report, FEOA equips the ED to target individuals who flee the country to evade prosecution for economic offences exceeding Rs 100 crore. 'This function addresses the growing challenge of offenders like Nirav Modi and Vijay Mallya, who abscond after perpetrating large-scale financial frauds. The ED's role includes identifying and confiscating their assets, both domestic and international, to prevent the dissipation of proceeds of crime,' the report said. 'The ED has confiscated assets worth more than Rs 900 crore till now under the 2018 law and we are planning to enforce these provisions more effectively in coordination with the police and other agencies,' he added. 'Through action under this Act, ED has been successful in getting one individual to return to the country and joining the prosecution proceedings. Recently, non-conviction based confiscation was added to the recommendation of the Financial Action Task Force,' the report said.
Time of India
01-05-2025
- Business
- Time of India
ED to speed up PMLA, FEMA cases; focus on fugitive assets, says director
NEW DELHI: The Enforcement Directorate (ED) will prioritise the swift completion of Prevention of Money Laundering Act ( PMLA ) investigations, aiming for quicker filing of final prosecution complaints (chargesheets) to expedite trials, ED Director Rahul Navin announced Thursday during the agency's foundation day address. Key focus areas this year also include stringent action against violations under the Foreign Exchange Management Act ( FEMA ) and more effective enforcement of the Fugitive Economic Offenders Act ( FEOA ) in coordination with police. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan Navin highlighted that the total value of assets under provisional attachment stood at Rs 1,54,594 crore as of March 31. He emphasized the agency's commitment to completing investigations and seeking confiscation of criminal property before special courts. Regarding FEMA, Navin stated the ED's responsibility is to ensure strict adherence to regulations issued by the Centre and the RBI. He also underscored the agency's intent to intensify the enforcement of FEOA provisions with the support of police and other predicate agencies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo The ED is also set to leverage advanced technology and forensics in its investigations and will invest in training and capacity building for its officers to maintain cutting-edge investigative capabilities. Sharing a comparative analysis, Navin noted a significant surge in enforcement activities post-2014. Until March 31, 2014, only Rs 5,171 crore of criminal property was attached, with the first prosecution complaint filed in 2012. In contrast, between 2014 and 2024, 5,113 new PMLA investigations were initiated, averaging over 500 cases annually. In the financial year 2024-25 alone, 775 new PMLA investigations were launched, 333 prosecution complaints were filed, and 34 individuals were convicted. During this period, the ED issued 461 provisional attachment orders valued at Rs 30,036 crore, marking a 44% increase in the number of attachments and a 141% rise in their total value compared to the previous year. Live Events On the restitution of proceeds of crime, Rs 15,261 crore was restituted in 30 cases during FY 2024-25 with court approval, a process expected to accelerate. The ED has 1,739 cases under trial as of March 31, following the filing of 333 prosecution complaints last year. Under FEOA, applications have been filed against 24 individuals, with 14 declared fugitive economic offenders, leading to the confiscation of over Rs 900 crore in assets.
