The laws ED deals with
Currently, the ED deals with four laws:
1. The Prevention of Money Laundering Act, 2002 (PMLA):
It is a criminal law to prevent money laundering and to provide for confiscation of property involved in money laundering.
2. The Foreign Exchange Management Act, 1999 (FEMA):
A civil law that deals with the foreign exchange market in India. The website states that “ED has been given the responsibility to investigate suspected contraventions of foreign exchange laws and regulations, to adjudicate and impose penalties on those adjudged to have contravened the law.”
3. The Fugitive Economic Offenders Act, 2018 (FEOA):
This law deals with Indian offenders who move out of India to escape laws. This allows ED to attach properties of fugitive offenders who have escaped our country to avoid trial.
According to the External Affairs Ministry, 25+ fugitive economic offenders have been living outside India, some of whom are popular businessmen such as Chetan Jayantilal Sandesara, Nitin Jayantilal Sandesara, Diptiben Chetankumar Sandesara, Nirav Modi, Vijay Mallya, Mehul Choksi, Sabya Seth, Rajiv Goyal, Alka Goyal, Lalit Modi, etc.
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