Finance:Fugitive Economic Offenders Act

The Fugitive Economic Offenders Act, 2018
Parliament of India
Long title An Act to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto.
Citation	Act No. 17 of 2018
Territorial extent	India
Enacted by	Lok Sabha
Passed	19 July 2018
Enacted by	Rajya Sabha
Passed	25 July 2018
Assented to	31 July 2018
Legislative history
Bill (proposed law) introduced in the Lok Sabha	The Fugitive Economic Offenders Bill, 2018
Bill citation	Bill No. 79 of 2018
Bill published on	12 March 2018
Introduced by	Arun Jaitley
Status: In force

The Fugitive Economic Offenders Act, 2018 is an Act of the Parliament of India that seeks to confiscate properties and assets of economic offenders that evade prosecution by remaining outside the jurisdiction of Indian courts. Economic offences with a value of more than Rs 100 crores, which are listed in the schedule of the Fugitive Economic Offenders Act, come under the purview of this law. As per the Act, a court (‘Special Court’ under the Prevention of Money Laundering Act, 2002) has to declare a person as a Fugitive Economic Offender. The bill for the act was introduced in the Lok Sabha, the lower house of the Parliament of India, on 12 March 2018. On 25 July 2018, the Parliament passed the bill.

Recently, on 5 January 2019, Special Prevention of Money Laundering Act (PMLA) court has declared Vijay Mallya a fugitive economic offender. His properties can now be confiscated by the government.

See also

• List of Acts of the Parliament of India