A tougher law to confiscate fugitives' assets
Thursday, February 2, 2017 IST
Spurred by the adverse publicity over liquor baron Vijay Mallya and previous cricket administrator Lalit Modi leaving us of a to prevent criminal court cases, the government introduced that it'll deliver a brand new law or amend the existing ones to confiscate the belongings of such people.
"In the latest beyond, there were times of massive-time offenders, such as economic offenders, fleeing the united states to get away the attain of regulation.
The government is considering the advent of legislative modifications, or maybe a new regulation, to confiscate the belongings of such men and women located within us .Until they put up to the jurisdiction of the appropriate felony forum," finance minister Arun Jaitley stated.
while enacted, the pass to confiscate belongings should cause the authorities attaching the assets of fugitives like Mallya, along with stocks managed by way of him in companies like United Breweries Ltd and United Spirits Ltd.
However, it's no longer clear what happens if 0.33 celebration rights are already created on these belongings, like in the case of Mallya who has pledged them as securities to a couple of lenders. the prevailing laws have greater limitations in regards to confiscation, which may match if there's a new regulation.
Related Topics
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 8K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
The women of Sanka Shyam Ji village of Rajgarh, situated 130 km from Bhopal, must cross the village and give birth outside if they wish theirs and their child&rsq...
Recently posted. 603 views . 1 min read
The Narcotics Control Bureau started its inquiries based on WhatsApp chats retrieved from Rhea Chakraborty's phone, which revealed alleged conversations aroun...
Recently posted. 513 views . 1 min read
Shanky Bhardwaj and his cousin brother Tushar Bhardwaj were insisting Akshay, the DJ, to play the song "Tamanche Pe Disco..." repeatedly, which led to a f...
Recently posted. 480 views . 1 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 52 min read
Recently posted . 1K views . 19 min read
Around 88% Indian women do not use sanitary napkins during their periods.
Recently posted. 500 views . 0 min read
In a written reply to a question by Shiv Sena legislator Manisha Kayande, transport minister Diwakar Raote told the legislative Council that the government will pla...
Recently posted. 557 views . 1 min read