DAILY NEWS ANALYSIS
13 July, 2020
5 Min Read
Fugitive Economic Offenders Act, 2018
Paper-3- Economics (Mains)
Recently, assets worth Rs. 329.66 crore of the Punjab National Bank (PNB) fraud mastermind Nirav Modi have been confiscated under Section 12(2) and (8) of the Fugitive Economic Offenders Act, 2018.
Fugitive Economic Offenders Act, 2018: It seeks to confiscate properties of economic offenders who have left the country to avoid facing criminal prosecution or refuse to return to the country to face prosecution.
Fugitive economic offender: A person against whom an arrest warrant has been issued for committing an offence listed in the Act and the value of the offence is at least Rs. 100 crore.
Some of the offences listed in the act are:
Declaration of a Fugitive Economic Offender:
Bar on Filing or Defending Civil Claims:
The authorities under the PMLA, 2002 will exercise powers given to them under the Fugitive Economic Offenders Act. These powers will be similar to those of a civil court, including the search of persons in possession of records or proceeds of crime, the search of premises on the belief that a person is an FEO and seizure of documents.
E-pharmacies The Ministry of Health sent "show cause" letters to at least 20 businesses in February 2023 for online drug sales, including Tata-1mg, Flipkart, Apollo, PharmEasy, Amazon, and Reliance Netmeds. What is e-pharmacy? E-pharmacy refers to the purchasing and selling of drugs and other pharmaceutical products through a
Punchhi Commission Report The Punchhi Commission's report on relations between the federal government and its constituent states will now be reviewed for state responses, according to the Union Ministry of Home Affairs (MHA). Historical Background: A Commission on Centre-State Relations was established by the Indian government,
Indo-German Relations Olaf Scholz, the Chancellor of Germany, recently paid a bilateral visit to India. It is Scholz's first trip to India after taking office as German Chancellor in December 2021, ending Angela Merkel's illustrious 16-year reign. About the news: The visit of the German chancellor is significant because i
India Denmark Cooperation During the "India-Denmark: Partners for Green and Sustainable Development Conference" in New Delhi, the Union Minister for Environment, Forests, and Climate Change said that India and Denmark can work together to show that reaching ambitious climate and sustainable energy targets is possible. Since the Gr
Mob lynching and Cow Vigilantism The recent lynching and burning of two men in Haryana on the basis of allegations of unlawful cow slaughter, smuggling, or transportation bring attention to the problem of mob lynching. About cow vigilantism: Mob attacks carried out in the guise of "cow protection" primarily target Mus
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.