Union cabinet approves Fugitive Economic Offenders Ordinance 2018

Agencies
April 21, 2018

New Delhi, Apr 21: The Union cabinet on Saturday 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 Fugitive Economic Offenders Bill was introduced in Lok Sabha on 12 March but could not be passed due to logjam in Parliament over various issues. It seeks to confiscate properties of economic offenders — like Nirav Modi— who have left the country to avoid facing criminal prosecution.

The ordinance was approved at a Cabinet meeting chaired by Prime Minister Narendra Modi, the sources said.

It will come into effect after the assent of the President.

The provisions of the ordinance will apply for economic offenders who refuse to return, persons against whom an arrest warrant has been issued for a scheduled offence as well as wilful bank loan defaulters with outstanding of over Rs100 crore. It provides for confiscating assets even without conviction and paying off lenders by selling off the fugitive’s properties.

Such economic offenders will be tried under Prevention of Money Laundering Act (PMLA).

The ordinance defines a fugitive economic offender as a person against whom an arrest warrant has been issued for committing offence like counterfeiting government stamps or currency, cheque dishonour for insufficiency of funds, money laundering, and transactions defrauding creditors.

A fugitive economic offender is one who has left the country to avoid facing prosecution, or refuses to return to face prosecution.

According to the ordinance, a director or deputy director (appointed under the PMLA, 2002) may file an application before a special court (designated under the 2002 Act) to declare a person as a fugitive economic offender.

The application will contain the reasons to believe that an individual is a fugitive economic offender.

Besides, the application will have information about his whereabouts, a list of properties believed to be proceeds of a crime for which confiscation is sought, a list of benami properties or foreign properties for which confiscation is sought, and a list of persons having an interest in these properties.

Upon receiving the application, the special court will issue a notice to the individual, requiring him to appear at a specified place within six weeks. If the person appears at the specified place, the special court will terminate its proceedings under the provisions of the Bill.

Any property belonging to the fugitive economic offender may provisionally be attached without the prior permission of the special court, provided that an application is filed before the court within 30 days. Appeals against the orders of the special court will lie before the high court.

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News Network
May 11,2020

New Delhi, May 11: Shares of Indian Railway Catering And Tourism Corporation (IRCTC) jumped 5 per cent in early trade on Monday after the Indian Railways said it will gradually resume passenger train services from May 12.

The company's shares gained 5 per cent to Rs 1,302.85 -- its highest trading permissible limit for the day -- on the BSE. At the National Stock Exchange (NSE), it rose 5 per cent to Rs 1,303.55 -- its upper circuit limit.

Booking for reservation in these trains will start at 4pm on May 11 and will be available only on the IRCTC website.

The Indian Railways will gradually resume passenger train services from May 12 and will ask passengers to arrive at the station at least an hour before departure, the national transporter said on Sunday.

Initially, the all air-conditioned services will begin on 15 Rajdhani routes and the fare would be equivalent to that of the super-fast train, it said.

The special trains will run from New Delhi to Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.

All passenger services were suspended due to a lockdown announced on March 25 and the railways later started the on-demand Shramik Specials to ferry migrants stranded across the country. It, however, has been running freight and parcel services.

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News Network
March 28,2020

Mumbai, Mar 28: Doctors in Mumbai have not been spared by the novel coronavirus. As Mumbai’s count for Covid-19 cases went up to 58, an octogenarian doctor from Saifee Hospital passed away on Friday. He was a suspected case of coronavirus with co-morbid conditions like diabetes and had a pacemaker implanted, said a press release from the state health department.

As per a statement from Saifee Hospital, he underwent a CT scan at Saifee Hospital and was diagnosed positive for Covid-19. The surgeon was transferred to the special isolation facility at PD Hinduja Hospital where he subsequently died. Behranwala’s close relatives had come down from England and were under quarantine.

In a statement, Saifee Hospital, where Behranwala underwent CT scan, said, "All containment and surveillance measures have been implemented to ensure the safety of our staff patients and visitors. Saifee Hospital reiterates that the Hospital is fully operational," said Dr Vernon Desa, Director (Medical governance and clinical compliance) Saifee Hospital.

In the second case, an Andheri-based doctor, aged 53, has been tested positive along with his 43-year-old wife and 20-year-old daughter. The family doesn’t have a travel history. The doctor reportedly came in contact with the virus through a patient. MCGM has taken samples of 60 patients who came in contact with the doctor. "As of now, no patient from his contact has tested positive," Assistant Commissioner, Vishwas Mote.

Another doctor who practiced at Vakola tested positive after he came in contact with a person having travel history to Italy, later tested positive. The doctor has been admitted at Raheja hospital and samples of his close contact have been taken.

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News Network
January 6,2020

Hyderabad, Jan 6: AIMIM president Asaduddin Owaisi on Monday expressed solidarity with students of Jawaharlal Nehru University in Delhi, following violence in the campus and said the "cruel attack" was meant to "punish"the students as they "dared to stand up".

"In solidarity with the brave students of JNU. This cruel attack is meant to 'punish' JNU students because they dared to stand up. It's so bad that even Union Ministers are tweeting helplessly. Modi Sarkar must answer why cops aresiding with goons," the Hyderabad MP tweeted.

The AIMIM has also tweeted expressing solidarity with the "students of JNU". "AIMIM stands in solidarity with the students of Jawaharlal Nehru University. Who feels threatened by the voice of students?," the party said in a tweet.

Violence broke out at the JNU on Sunday night as masked men armed with sticks and rods attacked students and teachers and damaged property on the campus, prompting the administration to call in police which conducted a flag march.

At least 28 people, including JNU Students' Union president Aishe Ghosh, were injured as chaos reigned on the campus for nearly two hours.

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