Par panel asks govt to soon appoint independent agency for managing seized assets by ED

New Delhi: A parliamentary panel has asked the government to expedite the process of appointing an independent agency to manage assets seized by the Enforcement Directorate (ED).

The committee on assurances in its 76th report, presented in the parliament on December 21, said more than four years have passed since an assurance was made on the floor of the house for appointing an independent agency to manage seized assets but no final decision has been taken yet.

“The Committee, therefore, recommends that the Ministry should expedite the process for appointing the agency and also keep the Committee apprised of the development that would take place in the matter,” said the committee on assurances in its report.

The report quoted an Implementation Report, furnished by the Department of Revenue (DoR), Ministry of Finance, (under which the ED functions) as saying that the ED was in discussion with public sector entity National Buildings Construction Corporation (NBCC) for management, maintenance and security of confirmed attached properties.

“Several rounds of meetings/discussions had happened between ED and NBCC and also with DoR on the issue. Further, at the request of NBCC, an updated and amended list of properties as of 31.12.2020 was again provided to NBCC in March 2021. After thorough discussion, it was decided by both sides to take up a Pilot Project in Chennai for the purpose of management, maintenance and security of the confirmed attached properties under the possession of the Directorate,” says the panel report quoting the Implementation Report.

But the panel termed the Implementation Report as part-fulfilment of the assurance as an independent agency to manage the seized assets was still pending for appointment and recommended that the finance ministry should expedite the process for appointing the agency.