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Central or state Act — primary legislation passed by the legislature. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
Enables confiscation of assets and properties of economic offenders who flee India to avoid criminal prosecution. Applies to offences involving amounts of Rs 100 crore or more.
Key Facts
TypeAct
SourceHistorical Record
PublishedThursday, 2 August 2018
Affected Population1.4 billion citizens, 63 million MSMEs
Enables confiscation of assets and properties of economic offenders who flee India to avoid criminal prosecution. Applies to offences involving amounts of Rs 100 crore or more.
The recent proceedings involving Sanjay Bhandari before the Delhi High Court have brought renewed attention to a constitutional question: can a person who deliberately avoids the jurisdiction of Indian courts continue to invoke the protection of those very courts?The issue assumes particular significance in the context of Section 14 of the Fugitive Economic Offenders (FEO) Act, 2018, which empowers courts and tribunals to disentitle a declared fugitive economic offender from pursuing or defendin
Tenor 1-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 71,971 Amount accepted (in ₹ crore) 71,971 Cut off Rate (%) 5.24 Weighted Average Rate (%) 5.24 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Deputy General Manager (Communications) Press Release: 2026-2027/1164
India’s jute industry is expected to recover in FY27, with sales volumes projected to rise 15% and operating margins improving on stronger demand and softer raw jute prices.