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About: Fugitive Economic Offenders Act, 2018     Goto   Sponge   NotDistinct   Permalink

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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. The bill for the act was introduced in the Lok Sabha on 12 March 2018 and passed on 25 July 2018. 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.