Parliament OKs fugitive economic offenders bill

In the aftermath of multiple bank frauds, the Parliament has approved a bill that aims to prevent economic offenders like diamond merchants Nirav Modi and Mehul Choksi and former liquor baron Vijay Mallya from fleeing the country. The bill gives authorities powers to attach and confiscate properties and proceeds of crime of such fugitive economic offenders who flee the country to avoid the legal process. The law is aimed at “effective, expeditious and constitutionally permissible deterrent” to ensure such actions are curbed and it will cover cases where the total value involved in an offence is at least £10 million. The bill was approved a day after PNB fraud accused Choksi acquired citizenship of Antigua.