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FUGITIVE OFFENDERS BILL, 2018

FUGITIVE OFFENDERS BILL, 2018

Fugitive Economic Offenders Bill, 2018. On 01.03.2018,  the Union Cabinet approved the Fugitive Economic Offenders Bill, 2018 in the parliament. As per Section 4(1)(e) of the Bill, "Fugitive Economic Offender" means any individual against whom arrest warrant in relation to a scheduled offence has been issued by any court in India, who (i) leaves or has left India so as to avoid criminal prosecution or (ii) refuses to return to India to face criminal prosecution. Schedule to the Bill  specifies offences under various statutes as specified offences.  There are A.  29 offences under various sections of Indian Penal Code,1860 B.   5 offences under Prevention of Corruption Act, 1988 C.  2 offences under SEBI Act, 1992 including insider trading. D.  1 offence under Section 135 of the Customs Act, 1962 E.   6 offences under the Companies Act, 2013 F    1 offence under Section Section 30(2) of the LLP Act, 2008 G.   1 offence under Section 69 of the Insolvency & Bankruptcy Code,        2016 i.e. punishment for transactions defrauding creditors for         defrauding creditors.   If FEO surrenders to the court in India, proceedings under this proposed Act will be cease by law. 


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