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India has pitched strongly to deal with fugitive economic offenders at the G20 summit in Osaka,Japan.
India has said that all countries should come together to deal with economic offenders escaping to other geographies to get away with their crimes.
In 2018,India has passed the Fugitive Economic Offenders Act.The act seeks to confiscate properties and assets of economic offenders that evade prosecution by remaining outside the jurisdiction of Indian courts.
Economic offences with a value of more than Rs 100 crores which are listed in the schedule of the Fugitive Economic Offenders Act come under the purview of this law.
As per the Act,Special Court under the Prevention of Money Laundering Act, 2002 has to declare a person as a Fugitive Economic Offender(FEO). Upon declaration,properties of the FEO may be confiscated by the central government.Further,the FEO or any company associated with him is barred from filing a civil claim.
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