ED's Aggressive Push to Restore Rs 15,000 Crore to Fraud Victims

The Enforcement Directorate aims to restore assets worth Rs 15,000 crore to fraud victims in the current fiscal year, using anti-money laundering laws. So far, assets worth Rs 31,951 crore have been restituted, with recent efforts focusing on high-profile cases like those of Vijay Mallya and Nirav Modi.

The Enforcement Directorate (ED) plans to return assets worth Rs 15,000 crore to victims of real estate and Ponzi frauds during this financial year, authorities revealed. This initiative is part of the agency's broader strategy to aggressively use the anti-money laundering law for restitution purposes.

Assets totaling Rs 31,951 crore have already been restored under this provision, including Rs 15,201.65 crore linked to cases involving Vijay Mallya, Nirav Modi, and the National Spot Exchange Limited (NSEL). The move came after a comprehensive review by ED Director Rahul Navin last year.

During PM Modi's 2024 election campaign, he pledged to return misappropriated funds to the poor. The ED is currently executing this promise by pursuing cases actively and securing court orders for asset restitution, as further emphasized in a recent government statement.

(With inputs from agencies.)