Union Minister of State for Finance Shri Pankaj Chaudhary and 69th Foundation Day Celebrations: A Vision for Economic Security
In an address on the occasion of the 69th Foundation Day of Directorate of Enforcement (ED), Union Minister of State for Finance, Shri Pankaj Chaudhary, presided over this prestigious celebration. The event was attended by several distinguished officials, including Additional Solicitor General Shri S.V. Raju, Director ED, Shri Rahul Navin, Special Directors Shri Subhash Aggarwal and Shri Prashant Kumar, Joint Secretary of Department of Revenue, Shri Naval Kishore Ram, former Chief Minister, and other senior officials from the Government of India and the Ministry of Finance.
The celebration was marked by the release of the ED’s Annual Report for FY 2024-25. The report, filed under the NB/KMN category, showcased several awards to its officers and zonal units, including Shri Chaudhary’s recognition as a leader in enforcing a secure economy. During his address, Shri Chaudhary emphasized that the role of ED is critical in safeguarding an economically secure India, highlighting how investigations into economic offenders have been vital in preventing crimes like money laundering.
Shri Chaudhary also highlighted the significance of PMLA investigations over the years, with a recent milestone of 5,113 new cases initiated from 2014 to 2024. He noted that efforts in 2024-25 resulted in 775 new PMLA investigations, along with the filing of 333 prosecution complaints and 34 individual convictions. During this period, ED also issued provisional attachment orders valued at Rs. 30,036 crore, an increase of 44% from the previous year. The total value of these attachments rose by 141%, reaching Rs. 1,54,594 crore on March 31st.
Shri Navin further elaborated that cryptocurrency and hawala traders have emerged as significant tools for money laundering, a concern addressed during his address. He emphasized the need for ED officers to stay abreast of changing scenarios in ML and to utilize various tools under PMLA to combat money laundering activities.
The event concluded with an audience’s heartfelt assembly at Shri S.V. Raju’s homeroom. The Annual Report was made available, showcasing achievements under NB/KMN awards, including the conviction rate of 93.6%. This report reflects ED’s efforts to maintain a secure economy and foster collaboration among its officers.
Conclusion: Shri Pankaj Chaudhary’s address underscored the importance of ED in enforcing economic security, with officials highlighting ongoing investigations into economic offenders and new contributions from others. The Annual Report under NB/KMN categories not only celebrated past achievements but also highlighted future developments. Whether through enhancing cyber protections or addressing money laundering issues, ED continues to play a vital role in ensuring India’s secure future.