Lok Sabha takes up bill to deter fugitive economic offenders

Initiating the discussion on the of Fugitive Economic Offenders Bill, 2018, Revolutionary Socialist Party (RSP) member N.K. Premchandran said he supported the provisions of the bill.

Published: 19th July 2018 04:24 PM  |   Last Updated: 19th July 2018 06:47 PM   |  A+A-

(From left) Absconding billionaire Nirav Modi, Former IPL commissioner Lalit Modi, Embattled liquor baron Vijay Malya, Gitanjali Group owner Mehul Choksi (File Photos | PTI)

By IANS

NEW DELHI: The Lok Sabha on Thursday took up for discussion a bill that provides for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian Courts.

ALSO READ: Government providing protection to '4Ms' -  Lalit Modi, Nirav Modi, Mehul Choksi, Vijay Mallya: Congress

Initiating the discussion on the of Fugitive Economic Offenders Bill, 2018, Revolutionary Socialist Party (RSP) member N.K. Premchandran said he supported the provisions of the bill but the government should not have resorted to an ordinance.

He said the bill was introduced in the budget session of the Parliament and efforts should have been made to pass it in that session.

Premachandran had on Wednesday moved a statutory resolution that the House disapproves the Fugitive Economic Offenders Ordinance promulgated in April this year.

The Bill allows for a person to be declared as a fugitive economic offender (FEO) if an arrest warrant is issued against him for any specified offences involving over Rs 100 crore and he has left the country and refuses to return to face prosecution.

To declare a person an FEO, an application will be filed in a Special Court designated under the Prevention of Money-Laundering Act, 2002.

The Court will issue a notice to the individual alleged to be a fugitive economic offender.

The bill provides for confiscation of any FEO's property bought from the proceeds of crime as also his other assets, benami or otherwise.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp