Fugitive Economic Offenders Act

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 ..


President gives assent to Fugitive Economic Offenders Bill, 2018

President Ram Nath Kovind has given assent (under Article 111) to Fugitive Economic Offenders Bill, 2018 passed by Parliament. With this assent, this Bill becomes law that will deter fugitive economic offenders to evade legal process in India and flee ..



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 ..


Union Cabinet approves establishment of NFRA to oversee auditors

The Union Cabinet has approved the establishment of National Financial Reporting Authority (NFRA). The NFRA will act as an independent regulator for the auditing profession which was one of the key changes brought in by the Companies Act 2013. The ..