Everything about ED
The Directorate of Enforcement (ED) is very often in news, consider the following statements about it:
ED is responsible for enforcement of both Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act (PMLA)
The Directorate is under the administrative control of Department of Economic Affairs.
ED has powers to undertake survey, search and seizure but not to arrest, prosecution action etc. against offender of PMLA offence.
Which of the above given statement(s) is/are correct?
a 1 only
b 1 and 3 only
c 2 and 3 only
d 1, 2 and 3
The Directorate of Enforcement was established in the year 1956 with its Headquarters at New Delhi. It is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act. Work relating to investigation and prosecution of cases under the PML has been entrusted to Enforcement Directorate.
The Directorate is under the administrative control of Department of Revenue for operational purposes; the policy aspects of the FEMA, its legislation and its amendments are within the purview of the Department of Economic Affairs.
Do you know?
To collect, develop and disseminate intelligence relating to violations of FEMA, 1999, the intelligence inputs are received from various sources such as Central and State Intelligence agencies, complaints etc.
To investigate suspected violations of the provisions of the FEMA, 1999 relating to activities such as “hawala” foreign exchange racketeering, non-realization of export proceeds, non-repatriation of foreign exchange and other forms of violations under FEMA, 1999.
To adjudicate cases of violations of the erstwhile FERA, 1973 and FEMA, 1999.
To process and recommend cases for preventive detention under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA)
To undertake survey, search, seizure, arrest, prosecution action etc. against offender of PMLA offence.
To provide and seek mutual legal assistance to/from contracting states in respect of attachment/confiscation of proceeds of crime as well as in respect of transfer of accused persons under PMLA.