In a significant revelation, the Finance Ministry informed the Rajya Sabha that the Enforcement Directorate (ED) has actively pursued 1,105 bank fraud cases, resulting in the attachment of crime proceeds amounting to ₹64,920 crore. Minister Bhagwat Karad disclosed these details and highlighted the ministry’s rigorous actions against willful defaulters.
The initial estimates indicate a total loss of around ₹400 crore in the alleged ration distribution case related to the West Bengal government. The ED’s first charge sheet submitted at a special court in Kolkata outlines the extent of the exchequer’s impact.
Minister Bhagwat Karad stated that the total number of willful defaulters with outstanding loans exceeding ₹25 lakh rose to 14,159 from public sector banks and 2,504 from private sector banks by March 2023. This marks a significant increase from the figures recorded at the end of June 2019.
“As per inputs received from the Directorate of Enforcement (ED), it has taken up around 1,105 bank fraud cases, including those pertaining to willful defaulters, for investigation under the provisions of the Prevention of Money Laundering Act, 2002 (PMIA),” said Minister Karad.
The actions taken under the Prevention of Money Laundering Act have led to the attachment of crime proceeds totaling ₹64,920 crore. Furthermore, 150 individuals have been arrested in connection with these cases, and 277 prosecution complaints have been filed before the special courts (PMLA).
This development underscores the government’s commitment to combating financial fraud and holding those involved accountable.
