The Union Cabinet chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Ministry of Finance to introduce the Fugitive Economic Offenders Bill, 2018 in Parliament. It is expected that the special forum to be created for expeditious confiscation of the proceeds of crime, in India or abroad, would coerce the fugitive to return to India to submit to the jurisdiction of Courts in India to face the law in respect of scheduled offences.
A Fugitive Economic Offender is a person against whom an arrest warrant has been issued in respect of a scheduled offence and who has left India so as to avoid criminal prosecution, or being abroad, refuses to return to India to face criminal prosecution
The total value involved in such offences is 100 crore rupees or more.
A scheduled offence refers to a list of economic offences contained in the Schedule to this Bill. The scheduled offence covers fifteen types of offences as under:
Complete details about these offences can be read here.
The list of fugitive economic offenders includes:
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