The Times Of India · Business
For Every Rs 100 Laundered, Only Re 1 Is Recovered By Authorities: CJI Surya
Chief Justice of India Surya Kant has highlighted the poor recovery rate of laundered money, saying authorities recover only ₹1 for every ₹100 laundered. Speaking at the 43rd International Symposium on Economic Crime in Cambridge, he attributed the gap to sophisticated economic offenders and inadequate international cooperation in extraditing fugitives and recovering illicit assets. Citing Kautilya’s Arthashastra, the CJI stressed the importance of audits, cross-verification and confiscation to combat corruption. He said India has enacted several laws and signed extradition and mutual legal assistance treaties, but actual asset recovery remains “underwhelming”. Surya Kant called for stronger global coordination, including prompt enforcement of forfeiture orders, freezing of assets and sharing of financial intelligence. He also cited the unresolved extradition cases of Vijay Mallya and Nirav Modi.
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