Excelsior Correspondent
SRINAGAR, Sept 15: The Directorate of Enforcement (ED) held its 32nd Quarterly Conference of Zonal Officers (QCZO) in Srinagar. The two-day conference was chaired by the Director, ED, and attended by Special Directors, Additional Directors, Joint Directors and Deputy/Assistant Legal Advisors from across the country.
The decision to conduct the conference in Srinagar was symbolic, aiming to reinforce national confidence in the region’s security environment following the recent terrorist attack in Pahalgam. Its successful execution demonstrated that Jammu and Kashmir remains a secure, vibrant and forward-looking venue for national-level deliberations.
A major agenda item was the fast-tracking of trials under the Prevention of Money Laundering Act (PMLA). The Director reviewed pending investigations and emphasized prompt filing of prosecution complaints. The agency’s conviction rate-50 convictions out of 53 merit-decided cases (94%)-was highlighted as possibly the highest in India and globally. Discussions also noted ED’s restitution of over Rs 34,000 crore to victims and legitimate claimants.
Other topics included review of ED’s internal case management database, the challenges of taking possession of confirmed attached properties post-Vijay Madanlal Chaudhary judgment and asset recovery improvements, including proposed reforms, a dedicated Asset Management Unit and adoption of BAANKNET for transparent auctions.
The interface between PMLA and the Insolvency and Bankruptcy Code (IBC) was discussed, with a focus on coordinated guidelines and resolution of legacy NCLT cases. Deliberations also emphasized expediting FEMA investigations and resolving old FERA cases.
Emerging challenges such as cyber and digital fraud, illegal online betting platforms and the need for updated circulars, manuals, and use of the e-Office platform were addressed. A restitution target of Rs 15,000 crore for FY was set.
On the infrastructure front, ED reported progress in acquiring office premises in Mumbai (BKC), Bhubaneswar, Patna, Raipur and other cities, aiming for all zonal offices to function from self-owned spaces within three to four years.
The conference concluded with a renewed commitment to inter-zonal coordination, operational excellence, and upholding the ED’s mission to combat economic offences and safeguard the nation’s financial integrity.
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