Hello friends welcome to Sonu live ,in this article I’m going to tell you about Fugitive Economic Offenders Act 2018, its procedure, and its provisions related to IPC Section 420:
Sure, here is an explanation of the Fugitive Economic Offenders Act, 2018, its procedure, and its provisions related to IPC Section 420:
The Fugitive Economic Offenders Act, 2018
The Fugitive Economic Offenders Act, 2018, is a special law enacted by the Indian government to confiscate the properties of economic offenders who flee the country to avoid facing criminal prosecution. The Act was passed in the backdrop of several high-profile economic offenders fleeing India after committing financial crimes.
Procedure under the Act:
- Declaration of Fugitive Economic Offender: When a court takes cognizance of an offense punishable by imprisonment for more than 2 years. And the accused is absent from India and has reason to believe that the accused has left India to avoid criminal prosecution, the special director or public prosecutor. With the approval of the central government, can file an application to declare the accused as a fugitive economic offender.
- Confiscation of Property: If the court declares the accused as a fugitive economic offender. The court can confiscate all the properties of the accused located within India.
- Administrator: The court will appoint an administrator to manage the confiscated properties of the fugitive economic offender.
- Claim by third party: Any person can file a claim with the administrator if they have any right, title, or interest in the confiscated property.
- Appeal: The fugitive economic offender or any aggrieved person can appeal against the order of confiscation before the High Court.
Provisions related to IPC Section 420:
The Fugitive Economic Offenders Act specifically deals with economic offenses as defined under the Prevention of Money Laundering Act, 2002. However, Section 4 of the Act states that the provisions of the Act shall also apply to offenses related to cheating. And misappropriation of property under Section 420 of the Indian Penal Code (IPC).
Therefore, if a person accused of cheating. And misappropriation of property under Section 420 of the IPC flees the country to avoid criminal prosecution. The court can declare them as a fugitive economic offender. And confiscate their properties under the Fugitive Economic Offenders Act, 2018.
Key features of the Act:
- The Act is intended to deter economic offenders from fleeing the country.
- The Act provides for a speedy and efficient confiscation of properties of fugitive economic offenders.
- The Act helps to recover the proceeds of crime and compensate the victims of economic offenses.
Criticisms of the Act:
- The Act has been criticized for being draconian and violative of the fundamental rights of the accused.
- The Act has also been criticized for being too focused on confiscation of properties rather than ensuring the return of the fugitive economic offenders to face trial.
Overall, the Fugitive Economic Offenders Act, 2018. It is a significant step towards tackling the problem of economic offenders fleeing the country. However, there are concerns about the fairness and effectiveness of the Act.
I hope this explanation is helpful. Please let me know if you have any further questions.
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