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 . 64K 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 . 9K 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 . 9K views . 7 min read
True – Tr...
Recently posted . 8K views . 83 min read
More in National
Many students appear to be sceptical about a course and sometimes about a college in regard to their future career prospects, campus life, extracurricular activit...
Recently posted. 1K views . 1 min read
Data shared by the department showed that of the total 19,375 fresh applications for permanent driving licences in July, 17,435 were received online.
Recently posted. 632 views . 1 min read
Senior Trinamool Congress leader and Rajya Sabha MP Mukul Roy announced his resignation from the party on Monday after months of being sidelined by chief minister M...
Recently posted. 698 views . 5 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 2K views
Recently posted . 2K views
Recently posted . 3K views . 31 min read
Recently posted . 1K views . 48 min read
K Annamalai met Chief Minister H D Kumaraswamy in the presence of state Home Minister M B Patil and informed him about his resignation.
Recently posted. 720 views . 1 min read
They said even though they knew to it would be difficult for the prime minister to take time out of his busy schedule for the ceremony, his letter had come as a hug...
Recently posted. 575 views . 1 min read