1. Government of India allows the Enforcement Directorate to share information with 15 more government agencies
Tags: National Economy/Finance
The Ministry of Finance on 22 November 2022 issued a notification which amended the Prevention of Money Laundering Act (PMLA), 2002, and allowed the Enforcement Directorate (ED) to share information about economic offenders with 15 more agencies. Earlier the ED shared information with only 10 government agencies. Now it has to share information with 25 agencies.
This has been done by the government to expedite the cases involving cases related to economic offence and better coordination between agencies.
The ED investigates the case relating to economics offence under the Prevention of Money of Money Laundering Act (PMLA) 2022, the Fugitive Economic Offenders Act 2018 and the sections of the Foreign Exchange Management Act (FEMA) 1999.
New agencies with which ED has to share information
These 15 agencies with which now ED has to share information are National Investigation Agency (NIA), Serious Fraud Investigation Office (SFIO), State Police Department, regulators under various Acts, Directorate General of Foreign Trade (DGFT), Ministry of External Affairs, and Competition Commission of India (CCI), National Intelligence Grid, Central Vigilance Commission (CVC), Defence Intelligence Agency, National Technical Research Organisation, Military Intelligence, inquiry authority under Central Civil Services Rules and Wildlife Crime Control Bureau..
Other 10 agencies with which ED shares information are;
The ED earlier used to share its information with Director (Financial Intelligence Unit, India, under the Ministry of Finance, Department of Revenue), Cabinet Secretariat (Research and Analysis Wing), Ministry of Home Affairs or National Security Council Secretariat or Intelligence Bureau, Economic Offenses Wing of Central Bureau of Investigation, Chief Secretaries of State Governments, Reserve Bank of India, Department of Company Affairs, Securities and Exchange Board of India.
The Enforcement Directorate was set up in 1956 under the Union Finance Ministry.
Director of Enforcement Directorate Sanjay Kumar Mishra
2. Government extends the term of Enforcement Directorate Director Sanjay Mishra by one year
Tags: Economy/Finance Person in news
The Appointment Committee of the Union Cabinet chaired by the Prime Minister Narendra Modi on 17 November 2022 has approved the extension of the tenure of the Director of Enforcement Directorate Sanjay Kumar Mishra by one year.
The order issued by the Union Ministry of Personnel on 17 November 2022 said that the 1984-batch Indian Revenue Service (IRS) officer has been given the extension till November 18, 2023.
Sanjay Kumar Mishra was appointed director of the Enforcement Directorate (ED) for a period of two years by an order on November 19, 2018.
Later, by an order of November 13, 2020, the appointment letter was modified retrospectively by the Central government and his term of two years was replaced by three years.
Last year the government of India promulgated an ordinance under which the tenure of the directors of the ED and the Central Bureau of Investigation (CBI) can be extended by up to three years after the mandated term of two years.
After this ordinance Sanjay Mishra was given a further one year extension in 2021.
Enforcement Directorate
It was set up in 1956 under the Union Finance Ministry. It enforces the criminal provisions of the Prevention of Money of Money Laundering Act (PMLA) 2022, the Fugitive Economic Offenders Act 2018 and the civil sections of the Foreign Exchange Management Act (FEMA) 1999.
Headquarters: New Delhi
