Fugitive Economic Offenders Ordinance

Enforcement Directorate filed an application under the Fugitive Economic Offenders Ordinance that empowers it to confiscate assets of a loan defaulter. Vijay Mallya

With the fresh chargesheet, ED will attempt to confiscate over Rs 9,000 crore worth assets of Mr Mallya under the recently promulgated Fugitive Economic Offenders Ordinance.

The Enforcement Directorate is set to move a special court in Mumbai to seek permission for "immediate confiscation" of about Rs 7,000 crore assets of designer diamond jeweller Nirav Modi under the recently promulgated Fugitive Economic Offenders Ordinance.

Showing urgency in dealing with absconding loan defaulters, the government has come out with a series of rules to operationalise the fugitive economic offenders law, for which an ordinance was promulgated by the President last week.

Scheduled offences worth Rs 100 crore or more will come under the purview of the Fugitive Economic Offenders Ordinance

President Ram Nath Kovind last night gave nod Fugitive Economic Offenders Ordinance that will allow the government to confiscate properties and assets of loan defaulters who flee the country.

Fugitive Economic Offenders Ordinance defines an offender is one who left the country to avoid facing prosecution, or refuses to return to face it

The Union Cabinet today approved a proposal to promulgate Fugitive Economic Offenders Ordinance 2018 that provides for confiscating properties and assets of economic offenders like loan defaulters who flee the country, sources said.

The Bill was introduced in Lok Sabha on March 12 but could not be passed due to logjam in Parliament.

Enforcement Directorate filed an application under the Fugitive Economic Offenders Ordinance that empowers it to confiscate assets of a loan defaulter. Vijay Mallya

With the fresh chargesheet, ED will attempt to confiscate over Rs 9,000 crore worth assets of Mr Mallya under the recently promulgated Fugitive Economic Offenders Ordinance.

The Enforcement Directorate is set to move a special court in Mumbai to seek permission for "immediate confiscation" of about Rs 7,000 crore assets of designer diamond jeweller Nirav Modi under the recently promulgated Fugitive Economic Offenders Ordinance.

Showing urgency in dealing with absconding loan defaulters, the government has come out with a series of rules to operationalise the fugitive economic offenders law, for which an ordinance was promulgated by the President last week.

Scheduled offences worth Rs 100 crore or more will come under the purview of the Fugitive Economic Offenders Ordinance

President Ram Nath Kovind last night gave nod Fugitive Economic Offenders Ordinance that will allow the government to confiscate properties and assets of loan defaulters who flee the country.

Fugitive Economic Offenders Ordinance defines an offender is one who left the country to avoid facing prosecution, or refuses to return to face it

The Union Cabinet today approved a proposal to promulgate Fugitive Economic Offenders Ordinance 2018 that provides for confiscating properties and assets of economic offenders like loan defaulters who flee the country, sources said.

The Bill was introduced in Lok Sabha on March 12 but could not be passed due to logjam in Parliament.