Understanding the Fugitive Economic Offenders Act

The question asks about the year in which the Fugitive Economic Offenders Act was passed in India. This Act is an important piece of legislation aimed at deterring economic offenders from evading the process of law in India by remaining outside the jurisdiction of Indian courts.

Year the Fugitive Economic Offenders Act was Passed

The Fugitive Economic Offenders Act came into force in India in the year 2018. It was enacted by the Parliament of India to provide for measures to deter fugitive economic offenders from evading legal proceedings and to attach and confiscate their properties.

Let's look at the options provided:

• 2016
• 2019
• 2018
• 2017

Based on the information about the Act's enactment, the correct year is 2018.

Purpose of the Fugitive Economic Offenders Act, 2018

The main purpose of the Fugitive Economic Offenders Act, 2018, is to:

• Define a 'fugitive economic offender'.
• Empower authorities to attach and confiscate properties of such offenders.
• Provide for the management and disposal of confiscated property.
• Discourage economic offenders from fleeing the country to avoid prosecution.

An individual against whom an arrest warrant has been issued for a scheduled offence, whose value is \(\text{₹}\)100 crore or more, is declared a 'fugitive economic offender' if they have left India and refuse to return to face prosecution.

The passage of this Act in 2018 was a significant step by the Indian government to tackle the issue of high-profile economic offenders absconding from the country.

Revision Table: Fugitive Economic Offenders Act

Additional Information on Fugitive Economic Offenders Act

The Fugitive Economic Offenders Act, 2018, introduced several key provisions:

• Declaration as Fugitive Economic Offender: An application is filed before a Special Court under the Prevention of Money Laundering Act, 2002, to declare a person as a fugitive economic offender.
• Attachment of Property: Once an application is filed, properties belonging to the individual can be provisionally attached. This includes properties located both in India and abroad.
• Confiscation: If the court declares the individual a fugitive economic offender, their properties can be confiscated by the Central Government.
• Disqualification: A fugitive economic offender cannot file or defend any civil claim in any court or tribunal in India.

This Act supplements existing laws like the Prevention of Money Laundering Act, 2002, and the Insolvency and Bankruptcy Code, 2016, to create a stronger framework against economic crimes and offenders.