With regard to details concerning ensuring that defaulters do not flee to foreign country, the Ministry of External Affairs (MEA) has informed that in case requests are received from agencies concerned for revoking or suspending passports of defaulters, the same is carried out expeditiously in MEA. Further, in order to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts, Government has introduced the Fugitive Economic Offenders Bill, 2018 in Parliament. The bill provide for attachment of property of a fugitive economic offender, confiscation of such offender’s property, and disentitlement of the offender from defending any civil claim. In addition, with a view to enable banks to inform relevant authorities of passport details, if need arises.
Penalty u/s 271B is not attracted in a case where books of account have not been maintained In a recent…
NALCO invites RFP for empanelment of Chartered Accountant Firms for verification of Stores/Spares and movable assets. NALCO has invited Request…
Sending or bringing currency of Nepal and Bhutan - RBI revises exiting regulations RBI has notified the Foreign Exchange Management…
Entire manufacturing process though by distinct units relevant for exemption from excise duty on account of manufacture without aid of…
High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the…
Penalty u/s 270A quashed as there was no satisfaction in the penalty order on what exactly was under reporting of…