More steps would be taken to check transfer of fraudulent properties, even though the prevailing laws provide for stringent action against those involved, government said in Rajya Sabha today.
"We can say that under the provisions of Sections 206 and 207 (of the Indian Penal Code), punishment can be meted out to both the transferor and the transferee (of fraudulent properties) ... If necessary, more steps would be taken," Minister of State for Home Affairs H P Chaudhary said.
He was replying to a debate on a Private Members' legislation seeking to amend the IPC to prevent fradulent transfer of property. The Indian Penal Code (Amendment) Bill, 2013, was introduced by CPI(M) member K N Balagopal, who later withdrew the measure after Chaudhary urged him to do so.
During the discussion, members from both ruling and treasury benches stressing the need to make anti-corruption laws more stringent.
M V Rajeev Gowda (Cong) said there was a need to take action against fly-by-night operators who garner ill-gotten wealth by weaving a web of deceit, and supported the bill.
Narendra Kumar Kashyap (BSP) said there appeared a need to support this Bill as there has been an increase in corruption. He said fake companies lured people to entrust them with their money, only to vanish later.
P Rajeeve (CPI-M) said after economic liberalisation, many scams had been seen and added that the biggest threat to economy was from corruption and black money. He said the proposed legislation aimed at strengthening the existing law.
E M Sudarsana Natchiappan (Congress) also said that people were often cheated after they are promised multiple returns and said he was in support of the Bill.
Baswaraj Patil (BJP) said that often the culprits kept their ill-gotten wealth in the name of others and emphasised that loopholes in the law needed to be plugged to ensure that even the big fish are not spared. He said the Bill has tried to alert the government.
Vishambhar Prasad Nishad (SP) also spoke of people being cheated by chit fund companies, demanding confiscation of all ill-gotten properties. Speaking on black money, he said that Prime Minister Narendra Modi had said that people would get Rs 15 lakh each after blackmoney was retrieved, but that is not happening.
Tiruchi Siva (DMK) sought clarity from the government about the existing provisions to check and said he would support the Bill.
Shantaram Naik (Congress) referred to chit fund frauds and said it was very difficult for people to get back the money they are duped of. He said the bribes given by foreign companies should also be brought under the net.
