Fugitive Economic Offenders Bill 2018 introduced in the Lok Sabha

Fugitive Economic Offenders Bill 2018 introduced in the Lok Sabha: Fugitive Economic Offenders Bill 2018 has been introduced in the Lok Sabha on 12th March 2018 by Mr Shiv Pratap Shukla, Minister of State for Finance . The Bill was approved byCabinet of ruling government on 1st of March 2018 to givegovernment powers to attach assets of fugitive economic offenders who are outside the country and do not return to India to face prosecution proceedings. This Bill seeks 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. 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 total value involved in such offences is 100 crore rupees or more, is within the purview of this Bill. This bill will be applicable for all offences where the monetary value exceeds Rs100 crore. It will bring under its ambit all individuals eluding the Indian legal process on the date of the enactment of the law, thereby ensuring that existing fugitivesEconomic Offender like liquor baron Vijay Mallya, and jewellers Nirav Modi and Mehul Choksi are coveredwithin the purview of this Bill. This bill also provides for confiscation of benami properties. The Fugitive Economic offender will not be able to pursue any civil cases in India, a government statement said.