The Union Cabinet approved the Fugitive Economic Offenders
Bill that seeks to confiscate and sell all assets of absconding economic
offenders. Once it is voted into law, the proposed legislation will empower
investigating agencies to confiscate, and vest with themselves, any property of
the absconding offenders without encumbrances, and will apply to cases where
proceeds of the crime are above Rs 100 crore. The bill will be taken to
Parliament for approval in the second half of the Budget session beginning on March
5, 2018.
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