The Fugitive Economic Offenders’ Bill, 2018 may deter fraudsters fleeing the country, but its draconian provisions might also be misused. Discuss critically. (200 words)
Refer – The Hindu
Enrich the answer from other sources, if the question demands.
IAS Parliament 6 years
KEY POINTS
· To ensure that perpetrators of specified crimes have a strong incentive to stay put, the Bill empowers officials to attach domestic properties of suspects even before a case is filed in a Special Court.
· While seizure of property before producing proof is harsh no doubt, this can be overlooked on the count that this law only applies to suspects who try to leave India after an arrest warrant has been issued, that too where the offense involves Rs. 100 crore or more.
· But as the list of culpable offences ranges from possessing counterfeit Government stamps and cheating to criminal conspiracy, bribe-taking and bank fraud, it can sometimes lead to harsh penalties that are out of proportion to the crime.
· For instance, the seizure powers apply not just to property believed to be part of the proceeds of the crime, but also to all ‘other properties’ belonging to the suspect.
· Once the Special Court declares a person as a fugitive, he can be debarred from filing and defending any civil claims thereafter.
· While this blanket ban is against the principles of natural justice.
· What is even harsher is barring companies from filing civil claims if their large shareholders, promoters or key managerial personnel are declared ‘fugitives’.
· These provisions can wreak undeserved collateral damage on minority shareholders in a listed company.
Shankaranand 6 years
Please Review
Thank You
IAS Parliament 6 years
Points are good. Better structuring is needed. Keep writing.
