NEWS
- 28 April | India to Witness Deadliest Event of World History Mega El Nino Click Here →
- 15 April | The 3-Attempt Strategy No One Talks About | How He Scored 420+ in GS Click Here →
- 30 March | The Honest UPSC Talk Nobody Tells You Click Here to see Abhijit Asokan AIR 234 talk →
News: The Enforcement Directorate reported declaring 21 individuals as fugitive economic offenders and initiating proceedings against 54 persons under the law.
About Fugitive Economic Offenders
- A fugitive economic offender is a person against whom a warrant for a scheduled offence of ₹100 crore or more is issued and who avoids returning to India.
- Legality: The Fugitive Economic Offenders Act, 2018 provides the legal framework to declare fugitive economic offenders.
- Special Court:A Special Court designated under the Prevention of Money-Laundering Act, 2002 examines such cases and declares individuals as offenders.
- Key Aspects:
- Threshold: An offender must face a warrant for offences involving ₹100 crore or more and must have fled India or refused to return.
- Application Process: A director or deputy director files an application with reasons, property details, whereabouts, and list of interested persons before a special court.
- Court Proceedings: The court issues notice for appearance, and failure to appear leads to declaration as a fugitive economic offender after due hearing.
- Property Confiscation: Authorities can attach and confiscate proceeds of crime, benami properties, and other assets in India or abroad, including provisional attachment for 180 days.
- Legal Consequences: Declared offenders and related entities may be barred from filing or defending civil claims, and appeals lie before the High Court.
