Fugitive Economic Offenders Act
Fugitive Economic Offenders Act News
PNB scam: Nirav Modi declared fugitive economic offender by special court in Mumbai; second businessman after Vijay Mallya to get tag
As per the investigating agency, Nirav and his uncle Choksi, in connivance with certain bank officials, allegedly cheated the PNB to the tune of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking.
Number of wilful defaulters in nationalised banks up 60% to 8,582 in five years to March 2019: Government
The minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years
PNB fraud case: Mehul Choksi fugitive and absconder, doesn't intend to cooperate with investigation: ED tells Bombay HC
Choksi and his nephew Nirav Modi are wanted by the ED and the CBI for allegedly defrauding the PNB to the tune of Rs 13,400 crore, in collusion with a few of its employees.
Confiscating properties draconian, won't help creditors: Vijay Mallya tells Bombay High Court
Fugitive businessman Vijay Mallya on Monday told the Bombay High Court that confiscation of his properties under the newly-enacted Fugitive Economic Offenders Act (FEOA) was draconian and it will not help the creditors
PNB fraud: Nirav Modi diverted Rs 934 crore to personal accounts maintained abroad, says ED's fresh chargesheet
The ED officials said the chargesheet or the prosecution complaint was filed against Nirav Modi before a special PMLA court in Mumbai a few days ago
Vijay Mallya declared 'fugitive economic offender' by Mumbai PMLA court; becomes first person charged under Act
Vijay Mallya has been declared a fugitive by an anti-corruption court in Mumbai, becoming the first person to be charged under the new anti-fraud law, Fugitive Economic Offenders Act, 2018.
Twenty-seven economic offenders fled India in last 5 years: MoS for Finance Shiv Pratap Shukla
Interpol has been approached to issue red corner notices (RCNs) against 20 persons out of these 27, Minister of State for Finance Shiv Pratap Shukla said in a written reply in Lok Sabha.
Who goes to attend a meeting with ‘300 bags’, huge cargo? Enforcement Directorate asks Vijay Mallya's lawyer
Despite issuance of summonses and three NBWs, Vijay Mallya refused to join the probe against him, the ED lawyer said.
Vijay Mallya's lawyer opposes Enforcement Directorate's plea to declare him fugitive
The ED had moved a special court here, seeking to declare Vijay Mallya a fugitive under the Fugitive Economic Offenders Act (FEOA).
Vijay Mallya extradition: Stricter Indian rules, policies can change dynamics of economic frauds committed in broad daylight
While India managed to rebut the claims of lack of infrastructure in the Vijay Mallya case, in the long run, the country needs to invest in the development of the criminal justice system and infrastructure so that such claims can hardly be raised in good faith.
Punjab National Bank fraud: Nirav Modi gets one month to file reply to ED plea seeking to declare him 'fugitive'
A special court Tuesday directed diamantaire Nirav Modi, a key accused in the multi-billion PNB fraud case, to file his reply on 29 October
Punjab National Bank fraud: UK confirms Nirav Modi's presence in its territory, CBI sends extradition request
The United Kingdom has confirmed the presence of Nirav Modi, the main accused in the $2 billion Punjab National Bank (PNB) fraud case, in its territory
PNB case: Court issues public notices for appearance against Nirav Modi, family under fugitive Act
The Fugitive Economic Offenders Act came into force from 31 July.
Monsoon Session of Parliament to end today: Laws on fugitive offenders, Backward Classes Commission among key legislations passed
The Monsoon Session of Parliament was remarkable for the fact that it was a significantly productive one, especially compared to the recent past.
President approves Bill aimed at deterring economic offenders from fleeing country, preventing cases like Vijay Mallya, Nirav Modi
A fugitive economic offender is any individual who is facing arrest for his involvement in economic offences worth at least Rs 100 crore and has left India so as to avoid criminal prosecution.