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The property will be attached on 100 crores fraud
Posted on 13th Mar 2018 15:58:01 in Developers
The Central Government has introduced a new bill in the Lok Sabha to curb the businessmen who run away from the financial fraud by fleeing the country. Bill has been proposed to attach property of more than Rs. 100 crores of fraudsters. The Central Government has presented this bill after discussing how to deal with the National Financial Reporting Authority with Defaulter.
Bigger action on defaulters
After the big tragedy of P.N.B in the Central Government, the Central Government will now take major action on such loan defaulters. According to reports, there is a proposal to seize properties of Vijay Mallya, Nirav Modi and Mehul Choksi and others. Also, such cases are being monitored where frauds can be seen. This situation will continue till the Bhagwadas come back and join the judicial process.
50 crores loan defaulters
It has been said to the banks that a lot of attention should be paid to the transaction above Rs 50 crore as there may be cheating here, to protect money PMLA Will use this provision.
These people will be declared proclaimed criminal
In the category of "criminal" criminal gang, there will be a person who has fled abroad to escape the warrant issued in this crime. According to sources, this draft will include the existing several laws to prevent economic offenses. In the draft, the right to initiate a legal process against the financial fraud will be given to the Enforcement Directorate.