The Union Cabinet approved the promulgation of the Fugitive Economic Offenders Ordinance 2018, which would empower the government to seize the domestic assets of those deemed by a relevant court to be fugitive economic offenders. The Ordinance has a provision for a ‘Special Court’ under the Prevention of Money-laundering Act, 2002 to declare a person as a Fugitive Economic Offender.

The Ordinance would lay down the measures to empower Indian authorities to attach and confiscate proceeds of crime associated with economic offenders and the properties of the economic offenders and thereby deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts.

The Ordinance has a provision for a ‘Special Court’ under the Prevention of Money-laundering Act, 2002 to declare a person as a Fugitive Economic Offender.