Fugitive Economic Offender

Fugitive Economic Offender

➽Vijay Maliya has become the first person to be declared a fugitive offender under the Fugitive Offender Act. The order was passed under section 2F of FEOA against Maliya by the PMLA court.

➽The investigation agency can now confiscate properties of Maliya which are not directly related to the cases against him.

➽The decision comes against an application by the Enforcement Directorate before the special Prevention of Money Laundering Act (PMLA) court to classify Maliya as a fugitive economic offender.

Definition-Fugitive Economic Offender:

The fugitive economic offender's law came into force in August 2018.

A person can be named an offender under this law if there is an arrest warrant against him or her for involvement in economic offences involving at least Rs. 100 crore or more and has fled from India to escape legal action.

The Procedure:

• The investigating agencies have to file an application in a Special court the Prevention of Money-Laundering Act, 2002 containing details of the properties to be confiscated, and any information about the person's whereabouts.
• The special court will issue a notice for the person to appear at a specified place and a date at least six weeks from the issue of notice.
• Proceedings will be terminated if the person appears. If not the person would be declared as a Fugitive offender based on the evidence filed by the investigating agencies.
• The person who is declared as a Fugitive Economic Offender can challenge the proclamation in the High Court within 30 days of such declaration according to the Fugitive economic Offenders Act, 2018.