 "PNB")
Stung by the Rs 114 billion scam at Punjab National Bank, the government is considering fast-tracking the draft fugitive economic offenders Bill.
The draft law might soon be placed before the Cabinet before being tabled in Parliament in the post-recess Budget session. Finance Minister Arun Jaitley had first spoken of such a Bill in the 2017-18 Budget.
The draft Bill, which has the law ministry’s approval, allows the government to confiscate the properties of economic offenders and defaulters who flee India.
Currently, confiscation can be done through multiple laws but it is a complicated process.
Even existing cases could come under the proposed law,
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