The Enforcement Directorate (ED) has successfully restored significant assets to public sector banks (PSBs) and other affected parties in major financial fraud cases, according to the Ministry of Finance’s annual report for 2024-25.
In the high-profile Vijay Mallya case, the ED has returned properties valued at Rs 14,132 crore to PSBs. Similarly, in the Nirav Modi case, the ED facilitated the restoration of assets worth Rs 1,052.8 crore to both public and private sector banks. In the Mehul Choksi case, properties worth Rs 2,566 crore have been returned to Punjab National Bank and ICICI Bank.
The report highlights the ED’s dual focus: actively investigating and addressing economic offences, including money laundering, while also working to restore assets to the rightful claimants who were defrauded. The ED has successfully returned approximately Rs 22,280 crore worth of properties to victims or legitimate claimants.
In another notable case, the ED restored Rs 4,025 crore worth of assets from Bhushan Power and Steel to the JSW Group. The restitution was approved by the Supreme Court in December 2024, following an affidavit filed by the ED seeking the return of the attached properties.
The ED’s efforts underscore its commitment to tackling economic crimes and ensuring justice for those impacted by financial fraud.
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