Is the system 'so helpless' not to act agnst offenders: Naidu

Rajya Sabha Chairman M Venkiah Naidu today asked whether the system had become "so helpless" in dealing with economic offenders, even as the opposition attacked the government for lack of will to act against the culprits despite having several laws.

As soon as Finance Minister Piyush Goyal moved the Fugitive Economic Offenders Bill in the Upper House for consideration and passing, Naidu remarked: "What is agitating the common man in the country is whether the system so helpless."
The Chairman also observed that "the question people are asking is unless there is a treaty with different countries, how will it (accused fleeing the country) be checked."
Soon thereafter, Congress member Vivek K Tankha attacked the government saying there was "no shortage of laws in India. But they get away because the government does not have the will to stop the willful defaulters."
"Is the government's intention to get a lot of publicity by bringing the law", he said, intiating the debate and added that the country will become a "land of legislations" but these "will serve no purpose."
"Why is the government pitching for a threshold of offences worth Rs 100 crore for bringing economic offenders under the purview of the legisalation," he said, adding "even offender of Rs 10 crore is bad."
"People like Lalit Modi, Vijay Mallya, Mehul Choksi and Nirav Modi" were involved in economic offences worth Rs 2.4 lakh crore, he said. "Law is too little and too late as all big fishes are outside the country."
The Finance Minister, while moving the bill, said the instances of people escaping and evading the legal process was increasing which needed to be checked as the current laws do not allow to deal with the severity of problem and the "criminal law does not allow us to impound their property."