• Ravinder Kumar

According to the Reserve Bank of India (RBI) statistical table for banks in India 2018, unprofitable (or non-performing) assets of SCBs increased from INR 3,23,464/- crores on March 31st 2015 to INR 10,35,528/- crores on March 31st 2018. Upgrading the NPA in the economy not only reduces economic growth but also injects corruption and poverty into the blood of the country. It empties public money, money that has been saved in the bank and other institutions by working day and night. The money that could be used for education, health, production and employment was used by some economic criminals for their personal growth. Therefore, this suggests that businesses and, in particular, banks and financial institutions have been significantly affected in the recent past due to some unethical entrepreneurs. These entrepreneurs borrowed money from banks and financial institutions for their businesses. But they do not pay the loan and, instead, flee to foreign countries far from the jurisdiction of the Indian courts. To stem this threat, the President of India has enacted the Fugitive Economic Offenders Act, 2018 (FEO) 2018 and came into force on April 21, 2018. The law establishes special courts to try these fugitive economic criminals and provides confiscation of its properties inside and outside India. This particular analyzes the most remarkable features of the law, its positive and negative attributes, and its socio-legal implications for business, and investigate the socio-economic problems and challenges pertaining to fugitive economic offenders in India.

Fugitive Economic Offenders, India, law

"LEGAL MECHANISM AND FRAMEWORK TOWARDS FUGITIVE ECONOMIC OFFENDERS IN INDIA A SOCIO LEGAL STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 3, page no.b198-b203, March-2022, Available :http://www.jetir.org/papers/JETIR2203126.pdf

"LEGAL MECHANISM AND FRAMEWORK TOWARDS FUGITIVE ECONOMIC OFFENDERS IN INDIA A SOCIO LEGAL STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 3, page no. ppb198-b203, March-2022, Available at : http://www.jetir.org/papers/JETIR2203126.pdf