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The Enforcement Directorate (ED) facilitated the restitution of 455 properties belonging to PACL Ltd. to the Justice Lodha Committee.
These properties are valued at approximately ₹15,582 crore, aimed at refunding defrauded investors.
Total assets attached by the ED in the PACL case, both in India and Australia, now stand at ₹27,030 crore.
The action underscores efforts to combat large-scale financial fraud and protect investor interests.
A multi-disciplinary organization investigating economic crimes and violations of foreign exchange laws. It operates under the Department of Revenue, Ministry of Finance. Its primary role in this context is to investigate money laundering and attach properties derived from criminal activities.
Constituted by the Supreme Court of India to oversee the sale of PACL's assets and refund money to investors who were defrauded by the company's illegal collective investment schemes.
The regulatory body for the securities market in India. SEBI had initiated action against PACL for running an illegal Collective Investment Scheme (CIS) and ordered the company to refund investors.
This Act forms the primary legal basis for the ED's actions in the PACL case, allowing it to investigate money laundering offenses, provisionally attach properties involved in money laundering, and prosecute individuals involved.
Grants SEBI the power to regulate collective investment schemes (CIS) and take action against entities operating such schemes without proper registration and compliance, as was the case with PACL.
GS-III: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment; Money-laundering and its prevention; Security challenges and their management in border areas – linkages of organized crime with terrorism.
General Awareness: Current Affairs, Indian Economy, Government Agencies.
General/Financial Awareness: Current Affairs, Economic Offences, Regulatory Bodies (ED, SEBI).
General Awareness: Current Events, Indian Economy, Government Organizations.
With reference to 'Financial Stability and Development Council', consider the following statements: 1. It is an organ of NITI Aayog. 2. It is headed by the Union Finance Minister. 3. It monitors macroprudential supervision of the economy. Which of the statements given above is/are correct?
Answer: 2 and 3 only
Consider the following statements: Statement-I : Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investors is exempted from tax, but the dividend is taxable. Statement-II : InvITs are recognized as borrowers under the 'Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002'. Which one of the following is correct in respect of the above statements?
Answer: Statement-I is incorrect but Statement-II is correct
Consider the following markets: 1. Government Bond Market 2. Call Money Market 3. Treasury Bill Market 4. Stock Market How many of the above are included in capital markets?
Answer: Only two
Medium for specific cases, High for general concepts of financial regulation, economic offenses, and investigative agencies.
India's law enforcement and economic intelligence agency responsible for enforcing economic laws and fighting economic crime.
An Act of the Parliament of India enacted to prevent money laundering and to provide for confiscation of property derived from, or involved in, money laundering.
A scheme or arrangement which pools money from investors for the purpose of investing in assets, with profits or income shared among investors, requiring SEBI registration.
The legal process by which a court or agency seizes property to prevent its disposal, often as part of an investigation into financial crimes or to satisfy a judgment.