Tanya Gupta
Published on: March 22, 2022, at 20:36 IST
Parliament’s first day of Budget Session (in progress) post the Holi Break has seen some Replies on Issues ranging from the Benches of the National Company Law Tribunal to the Raids that have been conducted by the Enforcement Directorate.
Details of Enforcement Directorate’s Raids
A Congress Member of Parliament Manish Tiwari has raised a question in the Lok Sabha to which Union Minister of State for Finance Pankaj Chaudhary replied that a total of 943 cases have been filed in the Enforcement Directorate’s Proceedings.
The Reply added that 23 Accused have been booked under the Prevention of Money Laundering Act (PMLA) and in a single case, an Accused based on merit was discharged.
There was an increase in searches conducted by the Enforcement Directorate, the reply highlighted.
The Minister added that a total of 112 Searches were carried out between 2004-2014 which resulted in the filing of 104 Prosecution Complaints and attachment of Proceeds of Crime of Rs. 5,346.16 Crore.
The Reply further stated that a total of 2,974 searches were conducted between 2014-2022 which resulted in the filing of 839 Prosecution Complaints and attachment of Rs. 95,432.08 Crores.
Pandora Papers Probe
Concerning the Progress in the Pandora Papers Case, Congress MP Suresh Dhanorkar presented a question to the Lok Sabha.
The Union Finance Minister replies,
“For the purpose of coordinated and speedy Investigation, a Multi-Agency Group (MAG) has been Constituted under the Convenorship of Chairman CBDT, with Directorate of Enforcement (ED), Reserve Bank of India (RBI), Financial Intelligence Unit India (FIU-IND), and Foreign Tax & Tax Research Division of CBDT as its Member Agencies.”
National Company Law Tribunal and National Company Law Appellate Tribunal Benches
The Benches of National Company Law Tribunal and National Company Law Appellate Tribunal were asked a question in the Lok Sabha that if they plan on setting more Benches and about the details of the pending cases.
The Reply stated that the Benches are set up in a Phased Manner and as of now No Proposal is Under Consideration. The Government is taking necessary steps to augment the Capacity of the Workload of both Tribunals.
As of January 31, 2022, 21,089 cases are pending before the National Company Law Tribunal’s Bench and 470 Resolution Plans worth Rs. 2,95,744.84 Crores have been approved, the Reply further added.
Also Read: NCLT, New Delhi: Proceedings Against the Personal Debtor U/S 95 of the IBC Shall be Abated
