21 April 2018

Cabinet Approves Promulgation of Fugitive Economic Offenders Ordinance

Cabinet Approves Promulgation of Fugitive Economic Offenders Ordinance


The Union Cabinet approved the promulgation of the Fugitive Economic Offenders Ordinance 2018, which would empower the government to seize the domestic assets of those deemed by a relevant court to be fugitive economic offenders.

The Ordinance has a provision for a ‘Special Court’ under the Prevention of Money-laundering Act, 2002 to declare a person as a Fugitive Economic Offender.

Source- The Hindu

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • An ordinance is an executive order issued by the President of India — on the recommendation of the Union Cabinet — that holds the same force as an Act passed by Parliament.

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