Home       Top Rated       Submit Article     Advanced Search     FAQ       Contact Us       Lawyers in India       Law Forum     RSS Feeds     

Register your Copyright Online

We offer copyright registration right from your desktop click here for details.

Latest Articles | Articles 2014 | Articles 2013 | Articles 2012 | Articles 2011 | Articles 2010 | Articles 2009 | Articles 2008 | Articles 2007 | Articles 2006 | Articles 2000-05

Search On:Laws in IndiaLawyers Search

Mutual Consent Divorce in Delhi
We provide fast, cost effective and Hassle free solution.
Contact us at Ph no: 9650499965 (Divorce Law Firm Delhi)
File Caveat in Supreme Court
Contact Ph no: +9650499965

Main Categories
 Accident Law
 Animal Laws
 Arbitration
 Aviation Law
 Bangladesh Law
 Banking and Finance laws
 Case Laws
 Civil Laws
 Company Law
 Constitutional Law
 Consumer laws
 Contracts laws
 Criminal law
 Drug laws
 Dubai laws
 Educational laws
 Employment / Labour laws
 Environmental Law
 family law
 Gay laws and Third Gender
 Human Rights laws
 Immigration laws
 Insurance / Accident Claim
 Intellectual Property
 International Law
 Juvenile Laws
 Law - lawyers & legal Profession
 Legal Aid and Lok Adalat
 Legal outsourcing
 Media laws
 Medico legal
 Miscellaneous
 Real estate laws
 Right To Information
 Tax Laws
 Torts Law
 Woman Issues
 Workplace Equality & Non-Discrimination
 Yet Another Category

More Options
 Most read articles
 Most rated articles

Subscription
Subscribe now and receive free articles and updates instantly.

Name
Email




Published : December 05, 2017 | Author : Sugam.Shine123
Category : Criminal law | Total Views : 242 | Unrated

  
Sugam.Shine123
4th, Year Law Student, School of Law, Galgotias University
 

The Fugitive Economic of Fenders Bill, 2017

A Step to Abstain Big Time Economic offenders from Absconding India
In pursuance of the announcement made by finance minister Arun Jaitley in his Budget speech on February 1 where Jaitley had noted in the recent past that there have been instances of big time offenders, including economic offenders, fleeing the country to escape the reach of law where he had said that “We must ensure that the law can take its own course," THE FUGITIVE ECONOMIC ofFENDERS BILL, 2017 has been introduced.

As per the draft law, a ‘fugitive economic offender’ means any individual against whom a warrant for arrest in relation to an economic offence has been issued and the person has left the country and refuses to return to India to face criminal prosecution. The provisions of the proposed bill will override other legislations dealing with economic offences.

"It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It was high time that the government and concerned authorities took appropriate steps towards the same and the introduction of this bill is the first step towards the same.

Salient Features of the Bill
·The proposed bill will be applicable in cases where the value of offences is over Rs 100 crore.
·It will allow Financial Intelligence Unit (FIU), the premier technical snoop wing under the finance ministry, to file an application for declaration of fugitive economic offender for confiscation of their assets.
·The bill entrusts responsibility to try such cases to the courts under Prevention of Money Laundering Act, 2002 (PMLA).

In the recent past, there have been instances of big-time offenders, including economic offenders, fleeing the country to escape reach out of jurisdiction of Indian courts. Most recently, Vijay Mallya, chief of erstwhile Kingfisher Airlines who owes over Rs 9,000 crore to various Indian banks, had fled India to escape legal proceedings regarding the loans. Such cases have several severe consequences as it hampers investigation in criminal cases, wastes precious time of courts of law and most noticeably undermines the rule of law of the country.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 and it is in the interest of the country both economically and socially that this bill should be passed without any unnecessary delay to stop such practices as soon as possible.




1 2 3 4 5
Rate this article!     Poor
Excellent    

Most viewed articles in Criminal law category
The Power of The Magistrate Under Section 156 (3) of Cr.P.C
The Elements and Stages of a Crime
Dying Declaration-Section 32(1) of Indian Evidence Act
Confession under Indian Evidence Act
Duty of The Public Prosecutor In The Criminal Justice System
Experts Opinion and its admissibility and relevancy - Law of Evidence
Whether Section 324 Of IPC Is Bailable Or Non-Bailable
Rape Laws In India-Appropriate or not?
Change in definition of Rape in India
Mens Rea in Statutory Offences
Anti - terrorism laws in India
Section 91(1) CrPc: An analysis of Constitutional Validity
Common Intention And Common Object Under The Indian Penal Code 1860
Rights of Arrested Person
Need on capital punishment in the context of rape
Secondary Evidence
Most recent articles in Criminal law category
Prisoners Rights
BRD Hospital Tragedy Existence of Res Ipsa Loquitur Over UP Govt Reasonable Justification
The Fugitive Offenders Bill
How to quash 498A
Bail conditions
is rope an answer for crime?
Formation of Special Courts in Rape Cases for Speedy Trial: A Necessity
Quash 498a -Vague allegations in Fir
Quashing of False FIR registered under 498A and 406 of the Indian Penal Code
Unsophisticated Arena of Criminal Investigation: Loopholes and Repercussions
Terrorist and their Tactics:-Need of Creative Criminology
How a Defendant Grand Jury Testimony Can Be Used at Trial
Yakubs Death Punishment
Framing of a Law or Enforcement of a Law
Compensation: A Ray of Hope
Evidential Value of Private Reports in Court of Law

Article Comments

there are no comments...


Welcome!
Please login or register a new free account.

Random Pick
Legal Metrology Act, 2009: Establish the standards of Weights & Measures, regulate trade and commerce.

Statistics
» Total Articles
1660
» Total Authors
4961
» Total Views
23504246
» Total categories
42

Law Forum


Legal Articles

Lawyers in India- Click on a link below for legal Services

lawyers in Chennai
lawyers in Bangalore
lawyers in Hyderabad
lawyers in Cochin
lawyers in Pondicherry
lawyers in Guwahati
lawyers in Nashik

lawyers in Jaipur
lawyers in New Delhi
lawyers in Dimapur
lawyers in Agra
Noida lawyers
lawyers in Siliguri

For Mutual consent Divorce in Delhi

Ph no: 9650499965
For online Copyright Registration

Ph no: 9891244487
Law Articles

lawyers in Delhi
lawyers in Chandigarh
lawyers in Allahabad
lawyers in Lucknow
lawyers in Jodhpur
Faridabad lawyers

lawyers in Mumbai
lawyers in Pune
lawyers in Nagpur
lawyers in Ahmedabad
lawyers in Surat
Ghaziabad lawyers

lawyers in Kolkata
lawyers in Janjgir
lawyers in Rajkot
lawyers in Indore
lawyers in Ludhiana
Gurgaon lawyers

TOP

India's Most Trusted Online law library
Legal Services India is Copyrighted under the Registrar of Copyright Act ( Govt of India) 2000-2017
 ISBN No: 978-81-928510-1-3