Modi government plans to bring ordinance to take on economic fugitives

New Delhi: In an attempt to put a curb to the rising number individuals’ escape to foreign countries after committing frauds in the country, the Narendra Modi led NDA government is mulling over a plan to bring an ordinance over the Fugitive Economic Offenders Bill.

In March this year, the Cabinet had cleared the Fugitive Economic Offenders Bill to crack down on financial crimes involving Rs 100 crore or more in a bid to act against those accused of defrauding banks and fleeing the country to avoid facing the law.

The government claims the law has been drafted in such a way that individuals such us Nirav Modi, Mehul Choksi and Vijay Mallya who fled the country before the law is enacted can be acted upon.

In the second half of the budget session, the Modi government had planned to pass the bill, but it failed to do due to opposition-led disruptions in both Houses of parliament. The bill aims at attachment of property of the fugitive economic offenders in India or abroad.

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