New Delhi, Aug 7: In a significant revelation, Solicitor General Tushar Mehta informed the Supreme Court on Thursday that the Enforcement Directorate (ED) has recovered approximately ₹23,000 crore in laundered money and returned it to the victims of financial crimes.
The statement was made during a high-stakes open court hearing before a special bench led by Chief Justice B.R. Gavai and Justice Satish Chandra Sharma. The bench is currently reviewing its controversial May 2 judgment that had ordered liquidation of Bhushan Power & Steel Limited (BPSL), overriding JSW Steel’s approved resolution plan.
While discussing the ED’s role in the BPSL matter, the Solicitor General shared, “Let me tell a fact, which was never said in any court… ED has recovered ₹23,000 crore and given it to the victims.” He further clarified that such recovered money does not go to the government’s coffers but is redistributed to those defrauded.
The discussion also touched on low conviction rates in money laundering cases, to which CJI Gavai remarked on the prolonged detentions without trial. Mehta cited flaws in the criminal justice system and shared anecdotes from high-profile raids where counting machines malfunctioned due to the sheer volume of seized cash.
The court responded cautiously to comments about media narratives, with the CJI stating, “We do not decide matters on narratives… I don’t see news channels.”
This comes amid growing judicial scrutiny of the ED’s methods, especially in politically sensitive cases. Recently, another SC bench had remarked that the agency was “crossing all limits,” highlighting rising concern over its functioning in high-profile investigations.
