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Fugitive Economic Offenders Bill
August 5 , 2018
2309 days
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- President Ram Nath Kovind has given assent to a law that will deter fugitive economic offenders to evade legal process in India and flee the country.
- A fugitive economic offender is any individual against whom warrants for arrest is issued for his involvement in select economic offences involving amount of at least Rupee 100 crore or more and has left India so as to avoid criminal prosecution.
- The new law allows designated special court to declare a person as fugitive economic offender and to confiscate his property, including ‘benami’ ones.
- The Fugitive Economic Offenders Bill, 2018 was passed by the Rajya Sabha on July 25. The Lok Sabha had cleared the measure on July 19.
- The President has also given nod to other laws
- Negotiable Instruments (Amendment) Act, 2018
- State Banks (Repeal and Amendment) Act, 2018
- Specific Relief (Amendment) Act, 2018.
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