 "Jaitley")
The Cabinet today cleared Fugitive Economic Offenders Bill to target big defaulters.
Corporate Affairs Minister Arun Jaitley said the new bill will apply for economic crime of over Rs 1 billion.
"Courts may declare anyone fugitive if he flees the country to avoid arrest in a scheduled offence where arrest warrant has been issued. All assets, not just proceeds of crime, will be confiscated of an offender fleeing the country and the offender cannot pursue any civil case," said Jaitley.
"Fugitive Economic Offenders Bill 2018 has been brought to confiscation of assets of a fugitive, including Benami assets. There will also be
