• Friday, April 26, 2024

Business

Indian Parliament passes Economic Offenders Bill

Vijay Mallya

By: Sarwar Alam

The Indian parliament on Wednesday (25) passed a bill that seeks to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country and evading the legal process. The Fugitive Economic Offenders Bill, 2018 was passed by the Rajya Sabha with a voice vote. The Lok Sabha had cleared the measure on July 19. Finance minister Piyush Goyal said instances of people running away and evading legal legal process was increasing, which needed to be stopped as the current laws do not allow dealing with the “severity of the problem”. “Criminal law does not allow us to impound…

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