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Govt may bring ordinance to curb fraud fugitives

NEW DELHI: The government may opt for the ordinance route to crack down on economic fugitives and attach their properties in a bid to bring them to book.
In March, the Cabinet cleared the Fugitive Economic Offenders Bill to crack down on cases involving Rs 100 crore or more in a bid to act against those accused of defrauding banks and fleeing the country to avoid facing the law.
The government believes the provisions have been drafted in a way that individuals such as Vijay Mallya, Nirav Modi and Mehul Choksi, who fled the country before the law is enacted can be acted upon. While the government had hoped to push the law during the second half of the budget session, it failed to do so due to disruptions in both Houses of Parliament which saw little business getting transacted.
A section within the government is keen that efforts should be made to get the bill passed in the monsoon session.
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