The proposed monthly invoice allows the Financial Intelligence Unit (FIU), the premier specialized snoop wing beneath the finance ministry, to file an software for the declaration of the fugitive financial offender for the confiscation of their property.
It permits the repealed law to be in power with respect to some current rights.
Earlier the Finance Minister Arun Jaitley in 2017-eighteen Worth range speech has introduced that legislative alterations or perhaps a new laws to confiscate the belongings of these fugitives.
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The proposed invoice lets the Money Intelligence Machine (FIU), the leading technological snoop wing less than the finance ministry, to file an software program for the declaration of the fugitive economic offender for the confiscation of their belongings.
Government proposes Draft Bill on Fugitive Economic Offenders
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