Fugitive Economic Offenders Bill, 2017 to tighten hold over absconding corporate defaulters

The Fugitive Economic Offenders Bill, 2017 is likely to be introduced during second the part of the Budget session. It provides for establishing a special court under the Prevention of Money Laundering Act, in order to declare a person a “fugitive economic offender”. It would enable quicker attachment and disposal of property and assets in order to recover the defaulted amount.

The Bill is in conformity with the provisions of United Nations Convention against Corruption that recommends “non-conviction-based asset confiscation for corruption-related cases”.

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Saumya Snehal

Saumya Snehal is a 3rd year BBA LLB student at Chanakya National Law University. Always a bibliophile, she loves to read, research and write on anything and everything legal. She has a insatiable appetite for knowledge and explores the same through indulging in various internships so that to constantly grow and become a better version of herself. She especially has an interest in corporate law and social legislations.

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