The Fugitive economic offenders' bill applies to those cases where the total value of economic offense is more than rupees hundred crores.
Fugitive Economic Offender means: any individual against whom a warrant of arrest in relation to a Scheduled Offence has been issued by any court in India
- has left India so as to avoid criminal prosecution; or
- being abroad, refuses to return to India to face criminal prosecution.
Silent features of the bill-
- Application before the special Court for a declaration that an individual is the Fugitive economic offender(FEO).
- Attachment of the property of the fugitive economic offender.
- Issue of a notice by the special court to the individual alleged to be a Fugitive economic offender.
- Confiscation of the property of an individual declared as FEO resulting from the pieces of crime.
- Confiscation of properties of such offenders in India and abroad, including benami property.
- Disentitlement of the FEO from defending any civil claim.
- An administrator will be appointed to manage and dispose of the confiscated property under the act.