The government has added the Competition Commission of India (CCI) to the list of agencies that have to share information with the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA Act). The centre in a notification dated November 22, 2022, said that the list has been amended in exercise of its powers under Section 66 of the PMLA, in the public interest.
Apart from CCI, the ministry of finance has also added 14 other bodies bound to share information with ED under PMLA.
The agencies added to the list are the National Investigating Agency (NIA), Serious Fraud Investigation Office (SFIO), State Police, Director General of Foreign Trade (DGFT), Ministry of External Affairs (MEA), National Intelligence Grid, Central Vigilance Commission (CVC), Defence Intelligence Agency, National Technical Research Organisation (NTRO), Military Intelligence, and Wildlife Crime Control Bureau.
Regulator under PMLA Rules 2005, Special Investigation Team (SIT) constituted by the Ministry of Finance and inquiry appointed under Civil Services Rules or Public Services Inquiry Act or any preliminary enquiry appointed with the approval of CVC are also included in the list.
Under Section 66 of the Act, the 15 entities are bound to disclose case information to the ED if the probe falls under its jurisdiction. Based on the information, the ED can file a case under the PMLA, if it deems fit.
Until now, only the Director (Financial Intelligence Unit, India, under the Ministry of Finance, Department of Revenue), Cabinet Secretariat (Research and Analysis Wing), Ministry of Home Affairs/National Security Council Secretariat/Intelligence Bureau, Economic Offences Wing of Central Bureau of Investigation, Chief Secretaries of State governments, Reserve Bank of India, Department of Company Affairs, and Securities and Exchange Board of India were required to share information with the ED.
