What is the Ed Full Form?
Ed Full Form | The Full Form Of E D is Enforcement Directorate. ED was founded in 1956. The Foreign Exchange Management Act (FEMA) of 1999 and some articles of the Prevention of Money Laundering Act (PMLA) of 2002 are enforced by the Economic Division (ED). Its headquarters is situated in India’s New Delhi. In India, ED carries out economic law enforcement and tackles money laundering. It uses adjudication to settle disputes and provides for appeal in both statutes. It also has its own trial courts and appellate tribunals. The Ministry of Finance’s Department of Revenue has administrative jurisdiction over the Enforcement Directorate.
The Foreign Exchange Management Act of 1999 and the Money Laundering Prevention Act of 2002 are two of the most significant pieces of laws that the Indian government has enacted, and the primary responsibility of the ED is to make sure that they are implemented. On May 1, 1956, the Department of Economic Affairs formed an “Enforcement Unit” to handle transgressions of the Foreign Exchange Regulation Act of 1947. In 1957, it was given the new name “Enforcement Directorate.” It has 11 sub-Zonal Offices, each led by an Assistant Director and 10 Zonal Offices, all overseen by Deputy Directors.
Operations of ED
- To collect, establish, and spread information about FEMA violations in 1999, intelligence reports are given from a variety of sources, such as State and Intelligence departments, complaints, etc.
- Examining alleged violations of the 1999 FEMA regulations, including activities like hawala foreign exchange racketeering, failure to realise export revenues, failure to repatriate proceeds from international trade, and other FEMA violations, 1999.
- handling the adjudication of old FERA 1973 and FEMA 1999 violations.
- to execute the penalties imposed following the adjudication procedure.
- Under the previous FERA 1973 handling, appeals, appeals, and judicial actions.
- to carry out a variety of actions against PMLA suspects, including investigations, searches, inspections, convictions, and litigation.
Main objectives of ED
- The FEMA 1999 (Foreign Exchange Management Act) and the PMLA 2002 (Money Laundering Prevention Act) are two important Indian government laws that the ED is primarily responsible for enforcing.
- Other targets that are especially related to preventing money laundering in India are listed on the ED’s official website.
- It is a body that specifically conducts investigations, and it is against GOI policies to put all information into the public domain.