What is the Full Form of ED
Full Form of ED
The full form of ED is “Enforcement Directorate”. ED is an economic intelligence organization that implements laws of economics and defends against financial crimes nationwide. ED stands under the Department of Revenue, Ministry of Finance Indian Govt. This department is responsible for regulating the income of Indian citizens as per their income slab.
History of ED
In the previous section, we have seen the full form of ED as Enforcement Directorate. Here we will see the formation of the ED department and a brief overview of ED. ED was founded in 1956. The headquarters is situated in New Delhi. The ED also has many regional offices in Kolkata, Mumbai, Chandigarh, and Hyderabad. It also has subzone offices in various cities. It is composed of the Indian Revenue Service, Indian Police Service, Indian Corporate Law Service, and Indian Administrative Service officers.
Main Objectives of ED
Here we have seen the full form of ED and a brief historical overview of ED. Now we are going to see some of the main objectives of ED. We have listed a few major objectives of ED below:
- The primary objective of the ED is to enforce two major Indian government laws, including the FEMA 1999 (Foreign Exchange Management Act) and the PMLA 2002 (Money Laundering Prevention Act).
- It is an investigative body in particular and the release of full information in the public domain is contrary to GOI guidelines.
- The ED’s official website enlists several other targets that are specifically linked to combating money laundering in India.
Operations of ED
Previously we have covered the full form of ED, the history of ED, and the primary objective of ED. Now we will discuss some of the operations of ED.
- Examining suspected infringements of the 1999 FEMA regulations including acts such as hawala foreign exchange racketeering, non-realization of export proceeds, non-repatriation of international trade, and other forms of FEMA violations, 1999.
- The intelligence reports are provided from different sources including State & Intelligence departments, grievances, etc. to gather, establish and disseminate information related to FEMA violations, 1999.
- To carry out investigations, searches, inspections, convictions, lawsuits, etc. against PMLA suspects.
- Providing and obtaining mutual legal support from contracting states as regards confiscation of illegal activity and also the transfer of alleged criminals under PMLA.
- Adjudicating cases of former FERA 1973 & FEMA 1999 violations.
- To carry out the fines levied after the adjudication process.
- Appeals, appeals, and legal proceedings under the former FERA 1973 handling.
What is ED work?
ED has been given the responsibility to conduct an investigation into suspected contraventions of foreign exchange laws and regulations and to adjudicate and impose penalties on those adjudged to have contravened the law.
What does mean ED in India?
The Directorate of Enforcement (ED) is a law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
Is ED a Police force?
ED Authorities Are Not Police Officers; Article 20(3) Protection Available Only After Arrest & Not At Summons Stage
What is the difference between CBI and ED?
Explaining the reasons for the extension, the government said, while the ED has the sole jurisdiction to investigate money-laundering cases, the CBI has the primary responsibility to investigate cases of corruption. Know detailed information of full form of ED here.
Is ED a statutory body?
Statement 2 is incorrect: It is not a statutory body. It is an agency under the Min of Finance. Know about the full form of ED at Wiki.
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