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Fugitive Economic Offenders Act, 2018

Summary

The Fugitive Economic Offenders Act, 2018 empowers any special court (set up under the Prevention of Money Laundering Act, 2002) to confiscate all properties and assets of economic offenders who are charged in offences measuring over INR 100 crores and are evading prosecution by remaining outside the jurisdiction of Indian courts.[1] The bill for the act was introduced in the Lok Sabha on 12 March 2018 and passed on 25 July 2018.[2] The Act also provides for provisional attachment of all properties of the offender and confiscation of the same on declaration as fugitive economic offender by the Special Court.

The Fugitive Economic Offenders Act, 2018
Parliament of India
  • An Act to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto.
CitationAct No. 17 of 2018
Territorial extentIndia
Passed byLok Sabha
Passed19 July 2018
Passed byRajya Sabha
Passed25 July 2018
Assented to31 July 2018
Legislative history
First chamber: Lok Sabha
Bill titleThe Fugitive Economic Offenders Bill, 2018
Bill citationBill No. 79 of 2018
Introduced byArun Jaitley
Introduced12 March 2018
Status: In force

The bill has been subject to mixed reception among legal commentators.[3][4]

See also edit

References edit

  1. ^ "PRS | Bill Track | The Fugitive Economic Offenders Bill, 2018". prsindia. Archived from the original on 1 May 2018. Retrieved 1 May 2018.
  2. ^ Nair, Remya (25 July 2018). "Bill to help government bring back fugitive economic offenders gets Parliament's nod". Mint. Retrieved 30 July 2018.
  3. ^ Sekhri, Abhinav (August 2017). "Running Argument : The flaws in the draft Fugitive Economic Offenders Bill". The Caravan. Retrieved 21 January 2020.
  4. ^ Tankha, Vivek (28 July 2018). "Fugitive Economic Offenders Bill: Are we nation of more laws and no action?". Business Standard. Retrieved 21 January 2020.

External links edit

  • The Fugitive Economic Offenders Bill, 2018
    • As Introduce
    • As Passed by Loksabha
    • As Passed by both Houses
    • पुर: स्थापित रूप में
    • लोक सभा द्वारा पारित