NEW DELHI: Finance Minister Piyush Goyal today moved the fugitive economic offenders bill in Lok Sabha to give authorities power to attach and confiscate the proceeds of crime and properties of fraudsters and loan defaulters who flee the country.
The bill will replace the Fugitive Economic Offenders Ordinance which was promulgated by the President in April.
“This is the first time in the last 70 years after independence that such a strict measure has been taken against the fugitive economic offenders,” Goyal said while moving the bill.
The bill provides for measures to deter fugitives from evading the law in India by staying outside the jurisdiction of Indian courts.
It was moved amid objections by the Congress leader Mallikarjun Kharge and RSP member NK Premachandran. (AGENCIES)
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