Extreme Law To Deal With Fugitive Economic Offenders Gets Cabinet Nod

Extreme Law To Deal With Fugitive Economic Offenders Gets Cabinet Nod

NEW DELHI: A proposed law that would empower the administration to reallocate the properties of escapees engaged with substantial scale financial offenses, has gotten the green flag from the Union bureau. The law will be pertinent where the offenses include more than ₹100 crore, Union pastor Arun Jaitley said.

The plan to acquire an intense law came after asserted monetary guilty parties like Lalit Modi and Vijay Mallya avoided the nation subsequent to defaulting on advances that keep running into many crores. The latest participant on the rundown of escapees s Nirav Modi, the VIP gem dealer charged in the 11,500 crore Punjab National Bank extortion case. Nirav Modi fled the nation in January and specialists say his present whereabouts are not known.

The legislature is presently confronting a tedious removal process that is expected to convey the blamed to book and recoup the cash.

Under the proposed law, the blamed will be allowed to express their case, which will incorporate an interest in the high court.

(This Story Orginating From NDTV)