Fugitive Economic Offender Current Affairs, GK & News

UK Home Secretary approves extradition of Vijay Mallya to India

The UK home secretary has ordered the extradition of Vijay Mallya over allegations of £1bn fraud. The UK home secretary noted that Vijay Mallya, the first to be declared Fugitive Economic Offender is accused in India of conspiracy to defraud, making false representations and money laundering offences. The liquor baron is still defiant and he ..

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Vijay Mallya becomes first Indian business tycoon to be named “Fugitive Economic Offender (FEO)”

Former liquor baron Vijay Mallya has become the first Indian businessman to be declared a Fugitive Economic Offender (FEO) under the newly enacted Fugitive Economic Offenders Act of 2018 by the Special Prevention of Money Laundering Act (PMLA) court in Mumbai. The tag now allows the government to confiscate and sold his properties in alleged ..

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Vijay Mallya declared as Fugitive Economic Offender

The  Prevention of Money Laundering (PMLA) court in Mumbai has declared Vijay Mallya as a Fugitive Economic Offender. Vijay Mallya is the first businessman to be charged under the new fugitive economic offender’s act 2018. Declaration of the Fugitive Economic Offender Vijay Mallya is declared as the Fugitive Economic Offender under the following provisions: According to ..

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Parliament passes Fugitive Economic Offenders Bill, 2018

Parliament has passed Fugitive Economic Offenders Bill, 2018 that aims to curb practice of evading criminal prosecution by economic offenders fleeing from country to evade clutches Indian law by remaining outside jurisdiction of Indian courts. The bill will replace an ordinance promulgated by President in April 2018. Key Features of Bill Fugitive economic offender (FEO): ..

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Lok Sabha passes Fugitive Economic Offenders Bill 2018 to attach & confiscate assets of defaulters

During the monsoon session of Parliament, the Lok Sabha passed the Fugitive Economic Offenders Bill 2018, which will empower authorities to attach and confiscate properties and assets of economic offenders like loan defaulters & fraudsters who flee the country. The bill will replace an ordinance promulgated by President Ram Nath Kovind in April 2018. It ..

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