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Fugitive Economic Offenders Bill cleared by PM Narendra Modi led Cabinet

The PM Narendra Modi led Cabinet cleared the Fugitive Economic Offenders Bill, a bill that comes under the wake of Punjab National Bank Nirav Modi fraud. The Bill allows the confiscation of offender’s assets without conviction where they flee the country. This can serve as a deterrent in cases like the jeweller Nirav Modi case. In his comments, FM Arun Jaitley courts may declare anyone fugitive if he flees the country to avoid arrest in a scheduled offence where arrest warrant has been issued. He further added that offender cannot pursue any civil case. FM Jaitley also explained that new and old cases of persons who have fled the country to avoid prosecution will be covered by the new bill. These proposals of the Cabinet regarding economic offenders will come before Parliament for clearance.