Question

Advantages of fugitive economic offenders bill 2018

Answer 1

The Union Cabinet has approved a Bill – Fugitive Economic Offenders Bill 2018 to bring economic offenders under the law. Main objective of the Bill is to prevent economic offenders evade national laws by remaining outside the jurisdiction of Indian courts after committing economic offences.

Parliaments’ Budget session will consider the Bill.

The Bill addresses a serious problem created by economic offenders whereby they exit the country after making offences like large scale corporate default. To counter this menace, the Bill has the main thrust of seizing the assets of fugitive economic offenders. Proceedings against the absconding offenders staying in foreign jurisdiction is also expected to be strengthened with the passage of the Bill..


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