Govt To Confiscate Properties Of Mallya, Modi And All Those Who Have Fled After Money Fraud

In its bid to crack down on economic fugitives and attach their properties, the Union Cabinet on Saturday approved a proposal to promulgate Fugitive Economic Offenders Ordinance 2018, sources said. The ordinance seeks to confiscate properties of economic offenders, like Nirav Modi, who flee the country to avoid facing criminal prosecution.

The move comes on the back of instances of economic offenders fleeing the jurisdiction of Indian courts after committing fraud. The multi-crore Punjab National Bank (PNB) fraud is the latest among such incidents, with alleged fraudster jewellers Nirav Modi and Mehul Choksi leaving Indian shores just days before the scam was detected.

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