The Union Cabinet, headed by Prime Minister Narendra Modi, has approved the proposal to introduce Fugitive Economic Offenders Bill 2018 in the Parliament, said Finance Minister Arun Jaitley on Thursday.
Addressing a press conference here, Jaitley said, “Fugitive Economic Offenders Bill 2018 has been brought to confiscate the assets of a fugitive, including Benami assets. There will also be the provision to confiscate those assets outside India, but co-operation of that country will also be needed.”
He added: “Offences worth Rs.100 crore or more will be under the purview of the Fugitive Economic Offenders Bill, 2018.”
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