Enforcement Directorate's 23,000 Crore Recovery: A Deep Dive

The Enforcement Directorate (ED) has successfully recovered approximately Rs 23,000 crore in laundered funds, redistributing this wealth to victims of financial crimes, Solicitor General Tushar Mehta revealed to the Supreme Court on Thursday.

During the open court session, which addressed a special bench with Chief Justice B R Gavai and Justice Satish Chandra Sharma, the solicitor general highlighted the significance of this recovery as the apex court re-evaluated its prior judgment involving Bhushan Power & Steel Limited (BPSL). The contested decision had initially opted for liquidation over a proposed resolution plan by JSW Steel Limited. The Chief Justice's bench elected to revisit the verdict, prompted by review pleas surrounding the high-stakes case.

The court's inquiry further probed the ED's role, spotlighting the dismal conviction rates in penal offenses. Despite criticisms, the ED maintained its efforts in pursuing high-profile money laundering cases, unfazed by narratives spun outside courtroom walls. Attention was also drawn to past observations where the agency's methods faced scrutiny, emphasizing the need for balance in legal enforcement.

(With inputs from agencies.)