OFFENCE

Who is fugitive economic offender under Fugitive Economic offenders Act 2018

The provisions of this Act shall apply to any individual who is, or becomes, a fugitive economic offender on or after the date of coming into force of this Act.

Fugitive economic offender” means any individual against whom a warrant for arrest in relation to a Scheduled Offence has been issued by any Court in India, who-

(i) has left India so as to avoid criminal prosecution; or

(ii) being abroad, refuses to return to India to face criminal prosecution;


Proceeds of crime means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a Scheduled Offence, or the value of any such property, or where such property is taken or held outside the country, then the property equivalent in value held within the country or abroad;


Sec 4- Application for declaration of fugitive economic offender and procedure therefor –

 

(1) Where the Director (Appointed Under Prevention of Money-laundering Act, 2002) or any other officer not below the rank of Deputy Director authorised by the Director for the purposes of this section, has reason to believe (the reasons for such belief to be recorded in writing), on the basis of material in his possession, that any individual is a fugitive economic offender, he may file an application in such form and manner as may be prescribed in the Special Court that such individual may be declared as a fugitive economic offender.

(2) The application referred to in sub-section (1) shall contain-

(a) reasons for the belief that an individual is a fugitive economic offender;

(b) any information available as to the whereabouts of the fugitive economic offender;

(c) a list of properties or the value of such properties believed to be the proceeds of crime, including any such property outside India for which confiscation is sought;

(d) a list of properties or benami properties owned by the individual in India or abroad for which confiscation is sought; and

(e) a list of persons who may have an interest in any of the properties listed under clauses (c) and (d).

(3) The Authorities appointed for the purposes of the Prevention of Money-laundering Act, 2002 (15 of 2003) shall be the Authorities for the purposes of this Act.

Form and manner of application for declaring an individual as a fugitive economic offender

 (1) The Director or the authorised officer, as the case may be, shall prepare an index containing the following materials, namely:-

(i) a copy of a warrant of arrest in relation to prosecution of a Scheduled Offence against the individual believed to be a fugitive economic offender issued by any Court in India;

(ii) a statement of reasons to believe that an individual is a fugitive economic offender;

(iii) a statement on any information available as to the whereabouts of the individual believed to be a fugitive economic offender;

(iv) any proof of effort undertaken to bring the individual believed to be a fugitive economic offender back to India;

(v) a list of properties or value of such properties believed to be the proceeds of crime, including any such property outside India for which confiscation is sought;

(vi) a list of properties or benami property owned by the individual believed to be a fugitive economic offender in India or abroad for which confiscation is sought;

(vii) a copy of a confiscation order issued by the Adjudicating Authority under the Prohibition of Benami Property Transactions Act, 1988, if any;

(viii) a list of persons who may have an interest in any of the properties listed under clauses (v) and (vi).

(2) The index and material prepared under sub-rule (1) shall be signed on each page and forwarded to the Special Court in a sealed envelope, indicating a reference number and date of despatch.

(3) The Director or the authorised officer, as the case may be, shall maintain registers and other records such as acknowledgement slip register and dak register and shall ensure that necessary entries are made in the register immediately as soon as a copy of the application along with the materials are forwarded to the Special Court.


After hearing the application under section 4, if the Special Court is satisfied that an individual is a fugitive economic offender, it may, by an order, declare the individual as a fugitive economic offender for reasons to be recorded in writing.


 Schedule of offences

[See section 2(l) and (m)]

Section

Description of offence

I.

Offences under the Indian Penal Code, 1860 (45 of 1860)

120B read with any offence in this Schedule

Punishment of criminal conspiracy.

255

Counterfeiting Government stamp.

257

Making or selling instrument for counterfeiting Government stamp.

258

Sale of counterfeit Government stamp.

259

Having possession of counterfeit Government stamp.

260

Using as genuine a Government stamp known to be counterfeit.

417

Punishment for cheating.

418

Cheating with knowledge that wrongful loss may ensue to person whose interest offender is bound to protect.

420

Cheating and dishonestly inducing delivery of property.

421

Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors.

422

Dishonestly or fraudulently preventing debt being available for creditors.

423

Dishonest or fraudulent execution of deed of transfer containing false statement of consideration.

424

Dishonest or fraudulent removal or concealment of property.

467

Forgery of valuable security, will, etc.

471

Using as genuine a forged [document or electronic record].

472

Making or possessing counterfeit seal, etc., with intent to commit forgery punishable under section 467.

473

Making or possessing counterfeit seal, etc., intent to commit forgery punishable otherwise.

475

Counterfeiting device or mark used for authenticating documents described in section 467, or possessing counterfeit marked material.

476

Counterfeiting device or mark used for authenticating documents other than those described in section 467, or possessing counterfeit marked material.

481

Using a false property mark.

482

Punishment for using a false property mark.

483

Counterfeiting a property mark used by another.

484

Counterfeiting a mark used by a public servant.

485

Making or possession of any instrument for counterfeiting a property mark.

486

Selling goods marked with a counterfeit property mark.

487

Making a false mark upon any receptacle containing goods.

488

Punishment for making use of any such false mark.

489A

Counterfeiting currency notes or bank notes.

489B

Using as genuine, forged or counterfeit currency notes or bank notes.

II.

Offences under the Negotiable Instruments Act, 1881 (26 of 1881)

138

Dishonour of cheque for insufficiency, etc., of funds in the account.

III.

Offences under the Reserve Bank of India Act, 1934 (2 of 1934)

58B

Penalties.

IV.

Offences under the Central Excise Act, 1944 (1 of 1944)

Section 9

Offences and Penalties.

V.

Offences under the Customs Act, 1962 (52 of 1962)

135

Evasion of duty or prohibitions.

VI.

Offences under the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988)

3

Prohibition of benami transactions.

VII.

Offences under the Prevention of Corruption Act, 1988 (49 of 1988)

7

Public servant taking gratification other than legal remuneration in respect of an official act.

8

Taking gratification in order, by corrupt or illegal means, to influence public servant.

9

Taking gratification for exercise of personal influence with public servant.

10

Punishment for abetment by public servant of offences defined in section 8 or section 9 of the Prevention of Corruption Act, 1988.

13

Criminal misconduct by a public servant.

VIII.

Offences under the Securities and Exchange Board of India Act, 1992 (15 of 1992)

12A

read with Prohibition of manipulative and deceptive devices, insider trading and section 24 substantial acquisition of securities or control.

24

Offences for contravention of the provisions of the Act.

IX.

Offences under the Prevention of Money Laundering Act, 2002 (15 of 2003)

3

Offence of money-laundering.

4

Punishment for money-laundering.

X.

Offences under the Limited Liability Partnership Act, 2008 (6 of 2009)

Sub-section (2) of section 30

Carrying on business with intent or purpose to defraud creditors of the Limited Liability Partnership or any other person or for any other fraudulent purpose.

XI.

Offences under the Foreign Contribution (Regulation) Act, 2010 (42 of 2010)

34

Penalty for article or currency or security obtained in contravention of section 10.

35

Punishment for contravention of any provision of the Act.

XII.

Offences under the Companies Act, 2013 (18 of 2013)

Sub-section (4) of section 42 of the Companies Act, 2013 read with section 24 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)

Offer or invitation for subscription of securities on private placement.

74

Repayment of deposits, etc., accepted before commencement of the Companies Act, 2013.

76A

Punishment for contravention of section 73 or section 76 of the Companies Act, 2013.

Second proviso to subsection (4) of section 206

Carrying on business of a company for a fraudulent or unlawful purpose.

Clause (b) of section 213

Conducting the business of a company with intent to defraud its creditors, members or any other persons or otherwise for a fraudulent or unlawful purpose, or in a manner oppressive to any of its members or that the company was formed for any fraudulent or unlawful purpose.

447

Punishment for fraud.

452

Punishment for wrongful withholding of property.

XIII.

Offences under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015)

51

Punishment for wilful attempt to evade tax.

XIV.

Offences under the Insolvency and Bankruptcy Code, 2016 (31 of 2016)

69

Punishment for transactions defrauding creditors.

XV.

Offences under the Central Goods and Services Tax Act, 2017 (12 of 2017)

Sub-section (5) of section 132

Punishment for certain offences.

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