Expedite wrap up of probes: Revenue Secy to ED

Concerned over "very poor" conviction rate in money-laundering cases, Revenue Secretary Hasmukh Adhia on Saturday asked the enforcement directorate (ED) to step up and complete the probes as early as possible.

"While the investigation has resulted in prosecution complaints being filed, the actual conviction rate is very, very poor. In the entire life of the Prevention of Money Laundering Act (PMLA), just examine how many people have so far been convicted," he said.

"It is important not only to finish the investigation, but to take it to the prosecution level and follow it up with courts and see to it that people are convicted. So, conviction is the final result of your entire effort and I am going to monitor it regularly." Echoing Adhia's point, ED Director Karnail Singh said "it is true that not a single conviction has happened in the PMLA cases".

He maintained that there is not a single acquittal though, adding that "the cases are pending in courts actually. We are trying our best".