Prez approves seizure of fugitive economic offenders' assets
President Ram Nath Kovind on Sunday promulgated the Fugitive Economic Offenders Ordinance 2018, which provides for confiscating assets of economic offenders fleeing India. It provides for seizing assets even without a conviction and paying off lenders by selling the fugitive's properties. The provisions of the ordinance will only apply to cases where the amount involved is â¹100 crore or more.