In order to pull down over economic offenders in the country, the Modi government has asked all the economic offenders in the country to come up together in order to create a master list of economic offenders that are ruling the country.
This step taken by the government is sure to bring down some of the economic offenders of the country such as Nirav Modi, Mehul Choksi, and Vijay Mallya.
On this, our news sources have reported that the list will be put up front by the Central Economic Intelligence Bureau (CEIB) which is a part of the revenue department in the Finance Ministry. And in order to prepare the list of the offenders, CEIB will take data and information from the agencies such as the Enforcement Directorate, Directorate of Revenue Intelligence, Central Bureau of Investigation, tax and customs departments, and the Security and Exchange Board of India.
Regarding the preparation of the list, a government official said that such a list will act as the biggest weapon in order to identify and bring down the people who are committing multiple economic offenses in the country. The official further added that the list will also be beneficial in bringing up several federal bodies together which will result in a greater coordination amongst them. The official explained that if a person is being invested by an agency then the particular agency can have a look over the list to determine if the same person is investigated with any other federal agency as well.
“DRI and the tax department had already been looking into fugitive diamantaire Nirav Modi’s affairs since 2014 and 2017, respectively, much before he fled”, the official explained further with an example.
Besides this, there are threshold limits that have been already set for each and every agency. So if the registered cases have an amount involved above the threshold limit then only the case will be reported to the CEIB.
The government official also explained the offenses which make a person an economic offender. He listed the offenses that include violations of laws as the Central Excise Act, Customs Act, Prevention of Money Laundering Act, Negotiable Instruments Act, the Reserve Bank of India Act, Prohibition of Benami Property Transactions Act and, of course, provisions of the Indian Penal Code.