The Fugitive Economic Offenders Bill was passed in Lok Sabha on Thursday after a two hour long heated debate. Here are eight things, you should know about the bill:
1) A fugitive economic offender is a person who has committed some specified offence involving an amount one hundred crore rupees or more and has absconded from India or has refused to come back to India to avoid or face criminal prosecution.
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2) Once a person is identified as a ‘Fugitive Economic Offender’, his property resulting from the proceedings of crime are seized including ‘benami property’ (assets owned under a fictitious name to cover one’s identity).
