The Supreme Court, in a special hearing on Thursday, extended Enforcement Directorate (ED) Director Sanjay Kumar Mishra’s tenure till September 15 to serve “public and national interest”.

The Enforcement Directorate (ED) is a specialized financial investigation agency in India.

It operates under the Department of Revenue, Ministry of Finance, and is responsible for enforcing economic laws and regulations in the country.

The primary objective of the Enforcement Directorate is to investigate and prevent economic offenses, particularly those related to money laundering and foreign exchange violations.

Money Laundering Investigation:

The ED investigates cases of money laundering, which involves the process of making illegal funds obtained through criminal activities appear legitimate by passing them through a complex sequence of banking transfers or commercial transactions.

Foreign Exchange Violations:

The agency looks into cases of violations related to foreign exchange laws, such as illegal externalization of funds, violation of foreign investment norms, and transactions contrary to the Foreign Exchange Management Act (FEMA).

Investigation of Economic Offenses:

The ED probes various economic offenses, including those under the Prevention of Money Laundering Act (PMLA) and other relevant laws.

Asset Confiscation:

The agency has the authority to confiscate assets that are suspected to be proceeds of crime or are linked to money laundering activities.

International Cooperation:

The Enforcement Directorate cooperates with other countries and international agencies in matters related to financial crimes and money laundering.

The ED has the power to conduct searches, issue summonses, and arrest individuals for further investigation. It plays a crucial role in curbing financial crimes and maintaining the economic stability of the country.