ED Report: Assets worth Rs 1.55 lakh crore attached in 20 years, 100 PMLA courts still delay in cases

According to the latest report of the Enforcement Directorate, the seizure of assets worth more than Rs 50,000 crore is stuck due to litigation and stay orders. These properties were provisionally attached by the ED under the Prevention of Money Laundering Act.

The investigating agency is also empowered to attach the suspected proceeds of crime temporarily during the course of investigation under the Prevention of Money Laundering Act (PMLA). This provisional order is required to be affirmed by the tribunal of the said Act within 180 days from the date of issuance. The ED has seized assets totaling to Rs 1.55 lakh crores from the time the Prevention of Money Laundering Act was in force from 2005 up to the year 2025, of which assets totaling to Rs 1.07 crores have been affirmed by the tribunal up to the end of the financial year 2024-25 but due to legal obstacles, seizure of more than Rs 50 thousand crores is pending.

The ED has said in its report that despite having 100 special PMLA courts across the country, the hearing of money laundering cases is not completed on time. There are systemic and procedural obstacles in this. Many courts are burdened with cases under other laws. The report said, often the cases are interrupted due to the filing of interim applications, writ petitions and bail cases. Some of these cases reach the High Court and Supreme Court, affecting the continuity and speedy disposal of cases under PMLA.

Meanwhile, at an event organised on 'ED Day' on Thursday, Enforcement Directorate (ED) Director Rahul Naveen said that the agency's conviction rate is 93.6 percent. Because so far, out of the 47 cases decided by the courts, the accused has been acquitted in only three cases. The agency chief said that he frankly admits that many investigations initiated under the Prevention of Money Laundering Act (PMLA) were pending for a very long time, but this year our focus is on completing the investigation and efforts to file the final chargesheet quickly.