New Delhi: 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 victims of financial crimes.
Mehta made this statement before a special bench comprising Chief Justice B.R. Gavai and Justice Satish Chandra Sharma during an open court hearing on a series of petitions seeking a review of the Supreme Court’s controversial May 2 judgment.
In that ruling, the apex court had ordered the liquidation of Bhushan Power & Steel Limited (BPSL), setting aside JSW Steel Limited’s resolution plan for the debt-ridden company. However, on July 31, the CJI-led bench recalled the earlier verdict and agreed to rehear the review petitions in this high-stakes matter.
During the review hearing, a lawyer referred to the ED’s investigation into the BPSL case, prompting Chief Justice Gavai to remark, “Here also ED is there.”
Responding to the observation, Solicitor General Mehta said, “Let me share a fact that has never been mentioned in any court before — the ED has recovered ₹23,000 crore in laundered money and returned it to the victims.”
He emphasized that the recovered funds do not remain with the state treasury but are instead directed to victims of financial fraud.
When the Chief Justice asked about the ED’s conviction rate, Mehta admitted that conviction rates in penal offenses remain low, attributing this to systemic issues within the country’s criminal justice system.
To this, the CJI remarked, “Even without convictions, people are being sentenced almost without a trial for years.”
Mehta also recounted instances during raids on politicians where cash recovery was so large that cash-counting machines malfunctioned and additional machines had to be brought in. He noted that some YouTube channels have been pushing certain narratives following such raids involving high-profile political figures.
The Chief Justice responded, “We do not decide matters based on narratives. I don’t watch news channels. I only glance at newspaper headlines in the morning for 10–15 minutes.”
Mehta acknowledged that judges do not let social media or public narratives influence their decisions.
Notably, several benches of the Supreme Court have previously criticized the ED for its alleged overreach, especially in cases involving opposition leaders. On July 21, in a separate matter, the Chief Justice-led bench remarked that the ED was “crossing all limits.” That suo motu case involved the agency summoning two senior advocates for offering legal advice or representing clients during investigations.
