Home / Crime and Justice / ED Recovers $28 Billion in Laundered Funds, Distributes to Victims
ED Recovers $28 Billion in Laundered Funds, Distributes to Victims
7 Aug
Summary
- ED has recovered around $28 billion in laundered money
- Recovered funds distributed to victims of financial crimes
- Supreme Court reviewing controversial bankruptcy case ruling
In a significant development, India's Enforcement Directorate (ED) has recovered around $28 billion in laundered money and distributed it to the victims of financial crimes, the Solicitor General Tushar Mehta revealed to the Supreme Court on July 31, 2025.
The statement was made during a hearing on a batch of pleas seeking a review of the apex court's controversial May 2, 2025 judgment that ordered the liquidation of Bhushan Power & Steel Limited (BPSL). The court had earlier set aside a resolution plan by JSW Steel Limited for the ailing firm.
The Chief Justice-led bench has now recalled the May 2 verdict and decided to hear the review pleas afresh in the high-stakes matter. During the hearing, the Solicitor General also highlighted the challenges faced by the ED in some cases, including instances where their cash-counting machines had to be replaced due to the sheer volume of seized funds.
The Supreme Court has been critical of the alleged high-handedness of the ED, especially in cases involving opposition leaders in money laundering investigations. The court had previously observed that the agency was "crossing all limits" in a different case.
