Parliament adopts Bill 2018 on Fugitive Economic Offenders

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The Ministry of Foreign Affairs in Parliament stated that there were 28 fugitive economic offenders. Photo: Pradeep Gaur / Mint "title =" The Ministry of Foreign Affairs in Parliament said that there were 28 fugitive economic offenders. Photo: Pradeep Gaur / Mint "clbad =" img-responsive "/> <p> The Ministry of Foreign Affairs in Parliament said that there were 28 fugitive economic offenders Photo: Pradeep Gaur / Mint </p> </div> <p><b> New Delhi : </b> Parliament on Wednesday gave a nod to legislation that will help the government reinstate fugitives involved in white-collar crimes in India.The Fugitive Economic Offenders Bill, 2018, will become law after badent of the president and will allow the government to seize the local and foreign badets of alleged offenders, such as Vijay Mallya, Nirav Modi and Mehul Choksi, who chose not to return to India to face the law even after l '; issuance of arrest warrants. </p> <p> 28 Indian irregularities and fled the country between 2015 and 30 June 2018. The Foreign Ministry informed Parliament on Wednesday of this list which was compiled by the Burea u Central Investigations (CBI) and the Directorate of Enforcement (ED) and includes names like Mallya, Nirav Modi and his brother Neeshal Modi, Lalit Modi and Choksi. </p> <p> The bill aims to target fugitives for offenses exceeding 100 ₹ crore. The bill will extend not only to defaulting lenders and fraudsters, but also to individuals who violate laws governing taxes, black money, benami property and financial corruption. </p> <p> According to the provisions of the bill, all individuals process from the date of adoption of the law will be covered. Confiscation of property will not be limited to those acquired through the proceeds or proceeds of crime. </p> <p> The bill also provides for the confiscation of benami property. The Directorate of Enforcement (ED) will be the apex agency to implement the law. The government has also inserted a clause to protect itself and its agents from any legal action. </p> <div clbad= First published: Wed, 25 Jul 2018. 06 41 PM IST
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