In a stunning revelation, Solicitor General Tushar Mehta informed the Supreme Court that the Enforcement Directorate (ED) has recovered approximately ₹23,000 crore in laundered money and redistributed it to victims of financial crimes. The statement came during a Thursday hearing before a special bench, led by Chief Justice B R Gavai and Justice Satish Chandra Sharma, addressing review pleas related to the controversial May 2 judgement on Bhushan Power & Steel Limited (BPSL).
The apex court had previously ordered BPSL’s liquidation, overturning JSW Steel’s resolution plan. On July 31, the CJI-led bench recalled that verdict to rehear the high-stakes review pleas. During the discussion, a lawyer referenced the ED’s investigation into the BPSL case, prompting the CJI to remark, “Here also ED is there.”
Mehta seized the moment to highlight the ED’s achievements, stating, “ED has recovered ₹23,000 crore in laundered money and given it to the victims.” He emphasized that recovered funds are returned to victims, not retained by the state. When asked about conviction rates, Mehta admitted they remain low due to systemic issues in India’s criminal justice system.
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The CJI responded sharply, noting, “Even if they are not convicted, you have been successful in sentencing them almost without a trial for years together.” Mehta countered with anecdotes of raids on politicians, where cash hauls were so large that counting machines failed, requiring replacements. He also criticized misleading narratives on platforms like YouTube when prominent figures are implicated.
Chief Justice Gavai clarified, “We do not decide matters on narratives. I don’t see news channels. I see headlines in newspapers only in the morning for 10-15 minutes.” Mehta acknowledged that judicial decisions remain unaffected by social media or external narratives.
The ED has faced scrutiny from various Supreme Court benches for its alleged overreach, particularly in cases involving opposition leaders. On July 21, in a separate case, the CJI-led bench criticized the ED for “crossing all limits” after it summoned two senior advocates for providing legal advice or representing clients during investigations.
The ED’s recovery of ₹23,000 crore marks a significant milestone in tackling financial crimes, though debates over its methods and conviction rates continue to spark controversy in India’s legal and political spheres.
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