ED scores in probing high-profile cases, but lags in conviction rate

Several other examples show the agency to be much ahead of other probe bureaus

The Enforcement Directorate (ED) has emerged as one of the most powerful central agencies investigating high-profile corruption cases, including bank frauds and corporate deals such as INX-Media, Punjab National Bank and Rafale.

Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005. 

The ED's mandate is to implement two laws — the Foreign Exchange Management Act, 1999 (Fema) and the Prevention of Money Laundering Act, 2002 (PMLA). It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established.

Since 2014, it has booked and