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Cabinet approves Fugitive Economic Offenders Bill, 2018 - Offences worth ₹ 100 crore or more under the Bill - Property of Fugitive Economic Offenders to be attached

News and Press Release - Dated:- 4-3-2018 - Cabinet Meeting dated 1-3-2018 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. The Bill would help in laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts. The cases where the total value involved in such offences is ₹ 1 .....

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um 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. Salient features of the Bill: Application before the Special Court for a declaration that an individual is a fugitive economic offender; Attachment of the property of a fugitive economic offender; Issue of a notice by the Special Court to the individual alleged to .....

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proceeding prior to the declaration, however, the alleged Fugitive Economic Offender returns to India and submits to the appropriate jurisdictional Court, proceedings under the proposed Act would cease by law. All necessary constitutional safeguards in terms of providing hearing to the person through counsel, allowing him time to file a reply, serving notice of summons to him, whether in India or abroad and appeal to the High Court have been provided for. Further, provision has been made for app .....

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erson as a Fugitive Economic Offender. 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. A scheduled offence refers to a list of economic offences contained in the Schedule to this Bill. Further, in order to ensure that Courts are not over-burdened with such cases, only those cases where the t .....

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