Fugitive Economic Offenders Bill (Feob), 2018
- President of India recently gave his assent to the Fugitive Economic Offenders Bill (FEOB) ,2018.
- The Act allows for a person to be declared as a fugitive economic offender (FEO) if:
- an arrest warrant has been issued against him for any specified offences where the value involved is over Rs 100 crore, and
- he has left the country and refuses to return to face prosecution.
- It extends not only to loan defaulters and fraudsters, but also to individuals who violate laws governing taxes, black money, benami properties and financial corruption.
- The implementing agency at apex, for this law will be the Enforcement Directorate (ED).
- To declare ....
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