The Union Law ministry has approved Fugitive Economic Offenders Bill, 2017 to empower government to confiscate property of economic offenders and defaulters who flee India. The Bill seeks to deter economic offenders from evading the process of Indian law by fleeing the country. It was drafted in pursuance of Finance Minister Arun Jaitley’s 2017-18 Budget speech promising legislative changes or even new law to confiscate the assets of such fugitives. The Finance Ministry had prepared the draft Cabinet note on the bill and sought the law ministry’s opinion on it.
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