ED Seizes Assets Worth 8 Times Home Ministry Budget: Anil Ambani, Crypto Scams Under Scrutiny

In the last 12 years, ED cases have increased by seven and a half times and seized assets have increased by 12 times.

The Enforcement Directorate (ED) has attached assets worth ₹32,500 crore in the first nine months of this financial year. Looking at the Modi government's ten-year record, the attached land and property have increased by more than 8 times. This year, the biggest action has been taken against the Anil Ambani group, whose assets worth ₹5600 crore have been attached. Additionally, assets worth ₹4190 crore in cryptocurrency fraud, ₹3436 crore of Pearl Group Ponzi, and ₹1000 crore of United Real Estate have also come under scrutiny.

Compared to last year, 141% more assets have been attached this time. The agency has so far attached a total of ₹1.55 lakh crore worth of assets, which is equivalent to the Ministry of Home Affairs' budget for one year. This includes bank accounts, FDs, shares, vehicles, luxury items, corporate properties, and investment portfolios.

Time taken in court proceedings is a major challenge. After the initial investigation under PMLA, assets were seized, and based on the judicial process, the attachments were also found to be correct by the court. However, the major hurdle is the continuous dragging of the court process, and until a decision is reached on the case, the assets remain in a frozen state.

Assets worth ₹2347 crore were seized in 2012-13. In the last 12 years, ED cases have increased seven and a half times, and seized assets have increased 12 times. Back in 2012-13, assets worth ₹2347 crore were seized in 62 cases, out of which ₹325 crore were found to be correct by the courts.

Order to return assets worth over ₹15,000 crore. After investigating the daily actions of the ED against economic offenders and reports of asset seizures, Bhaskar found that courts have deemed assets worth over ₹1.06 lakh crore as correct. Meanwhile, in 30 cases, courts have also ordered the return of assets worth over ₹15,000 crore.