My Previous Video Links
New Traffic Rules & Fines 2019
[ Ссылка ]
#EnforcementDirectorate#ForiegnExchangeManagementAct#PMLAACT#
What is Triple Talaq Bill
[ Ссылка ]
10 Important Laws and Rights That Every Indian Should Know
[ Ссылка ]
What Is Article 370 and 35a The Special Provisions For Jammu and Kashmir
[ Ссылка ]
How To Claim Insurance After Bike Accident
[ Ссылка ]
6 Property Documents To Check Before Buying The Property
[ Ссылка ]
The Enforcement Directorate (ED) was established in 1956. ED is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act (PMLA), 2002. Its Headquarters is situated at New Delhi.
HEMANT SINGH
AUG 22, 2019 16:16 IST
Enforcement Directorate (ED Logo)
The term ‘Enforcement Directorate’ is most sought after in Indian politics. But most of the people are not aware about this term. So in this article we have explained the meaning and functions of the Enforcement Directorate which is popularly known as ED.
About Enforcement Directorate (ED);
The Enforcement Directorate was established in the year 1956. Its Headquarters is situated at New Delhi.
ED is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act (PMLA).
The Directorate is under the administrative control of Department of Revenue (under the Ministry of Finance) for operational purposes.
The Directorate enforced regulations under the Foreign Exchange Regulation Act, 1973 but later on FERA is being replaced by the FEMA.
Enforcement Directorate has 10 Zonal offices each of which is headed by a Deputy Director and 11 sub Zonal Offices each of which is headed by an Assistant Directors.
What is Election Model Code of Conduct?
List of Zonal Offices is as Follows;
1. Mumbai
2. Delhi
3. Chennai
4. Kolkata
5. Chandigarh
6. Lucknow
7. Cochin
8. Ahmedabad
9. Bangalore
10. Hyderabad
Functions of the Enforcement Directorate:-
1. ED; investigates suspected violations of the provisions of the FEMA. Suspected violations includes; non-realization of export proceeds, “hawala transactions”, purchase of assets abroad, possession of foreign currency in huge amount, non-repatriation of foreign exchange, foreign exchange violations and other forms of violations under FEMA.
2. ED collects, develops and disseminates intelligence information related to violations of FEMA, 1999. The ED receives the intelligence inputs from Central and State Intelligence agencies, complaints etc.
3. ED has the power to attach the asset of the culprits found guilty of violation of FEMA. “Attachment of the assets” means prohibition of transfer, conversion, disposition or movement of property by an order issued under Chapter III of the Money Laundering Act [Section 2(1) (d)].
4. To undertake, search, seizure, arrest, prosecution action and survey etc. against offender of PMLA offence.
5. To provide and seek mutual legal assistance to/from respective states in respect of attachment/confiscation of proceeds of crime and handed over the transfer of accused persons under Money Laundering Act.
6. To settle cases of violations of the erstwhile FERA, 1973 and FEMA, 1999 and to decide penalties imposed on conclusion of settlement proceedings.
So this was all about the reason behind the establishment and functions of the Enforcement Directorate. ED is playing a very crucial role in fighting the menace of corruption in the country.
Information In This Video Should Not Be Considered As A Legal Opinion. This Content Is Intended To Be A Substitute For Professional Legal Advice/Opinion Always Seek Advice From Legal Service Provider Regarding Your Specific Legal Issue
Background Music Credit 👉
[ Ссылка ]
(NCS - No Copyright Sounds)
