Prime Minister Narendra Modi on Wednesday raised the issue of economic offenders, like Vijay Mallya and Lalit Modi, staying in Britain with British Prime Minister Theresa May, during his historic visit to the United Kingdom (UK). The move holds massive importance as it comes almost after a month of the Government of India introducing Fugitive Economic Offenders Bill 2018 in the Parliament.
The proposed bill talks about confiscating the assets of a fugitive including those outside India, but the co-operation of the concerned country is needed in this case.
On March 1, addressing a press conference in New Delhi, Finance Minister Arun Jaitley had said,
"Fugitive Economic Offenders Bill 2018 has been brought to confiscate the assets of a fugitive, including Benami assets. There will also be the provision to confiscate those assets outside India, but co-operation of that country will also be needed."
Once the Bill becomes a law, it aims to create a special forum for the expeditious confiscation of the proceeds of crime, in India or abroad. It would also coerce the fugitive to return to India to submit to the jurisdiction of Courts in India to face the law in respect of scheduled offences.
Earlier in the day, Indian High Commissioner to the United Kingdom Yashwardhan Kumar Sinha on Tuesday said in addition to terrorism, issue of India's economic offenders staying in Britaon will be discussed during Prime Minister Narendra Modi's visit to Britain.
In 2016, Mallaya left India where he is wanted for financial irregularities amounting to total Rs 9,000 crore. Currently, he is facing a trial in the UK court in this connection.
India is also seeking Britain's cooperation in the extradition of Lalit Modi, who is being probed here for a IPL media rights deal worth Rs 425 crore .
PM Modi, who is on a five-day tour to three nations, landed to the Heathrowairport of the United Kingdom on Tuesday to take part in the 2018 Commonwealth Heads of Government Meeting.