Mallya-like cases: Law soon to seize assets of fugitive economic offenders

Provision of proposed bill, once passed in the Parliament, will override other existing legislations

In an attempt to make the process of nabbing the likes of Vijay Mallya easier, the central government on Thursday proposed a stringent legislation to confiscate properties of "fugitive economic offenders".

The draft, 'The Fugitive Economic Offenders Bill 2017,' seeks to deter economic offenders from evading the process of domestic law by remaining outside the jurisdiction of Indian Courts.

Provisions of the proposed bill, once passed in the Parliament, will override other legislations dealing with economic offences.

Proposed bill provides for the setting up of special courts under the Prevention of Money Laundering Act (PMLA) that would have the power