Cabinet approves Fugitive Economic Offenders Bill

New Delhi Mar 2: The union cabinet chaired by Prime Minister Modi had taken a crucial decision yesterday.The Cabinet had approved the Fugitive Economic Offenders Bill 2018 . Union Finance Minister Arun Jaitley has addressed the media.

FM has said that "Bill provides for confiscation of assets even without conviction in cases where economic offenders flee the country and paying the lenders by selling off the fugitive's properties and such persons will be tried under the Prevention of Money Laundering Act."

He added that "A Fugitive offender would be a person who committed an offense as prescribed in the bill and a competent court issued an arrest warrant, and the person left the country to avoid this."

Jaitley has also said that "We can't allow people to make a mockery of the law, that they first indulge in loot, and then leave the country to avoid the law."

Finally the minister has said that "we will introduce the bill in the upcoming budget session and would ensure that the bill would be passed at the earliest ."