[(2) It extends to the whole of India
(3) It shall come into force on such date5a as the Central cation in the Of cial Gazette, appoint in this behalf.
Application of other laws not barred.
2. The provisions of this Act shall be in addition expressly provided, in derogation of the 6[Companies any other law for the time being in force.
1. Word “companies” omitted by the Banking Laws (Applica 1965, w.e.f. 1-3-1966.
2. Substituted for “Companies”, ibid.
3. Dated 10-3-1949.
This Act has been extended to Dadra and Nagar Haveli 1965) and to Goa, Daman and Diu by Regulation 11 Nothing in this Act (Except section 34A) shall apply section 34 of the Industrial Development Substituted by the Banking Companies (Amendment)
Words “except the State of Jammu and Kashmir” (Extension of Laws) Act, 1956, w.e.f. 1-11-1956.
Substituted for “Indian Companies Act, 1913 (VII (Amendment) Act, 1956, w.e.f. 14-1-1957.
Government may, by noti-
and not, save as hereinafter [Companies Act, 1956 (1 of 1956)], and tion to Co-operative Societies) Act, by Regulation 6 of 1963 (w.e.f. 1-71963. the Industrial Development Bank of of India Act, 1964 (18 of 1964). Act, 1950, w.e.f. 18-3-1950. omitted by the Jammu and Kashmir 1913)” by the Banking Companies
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FUGITIVE ECONOMIC OFFENDERS ACT, 2018
1.
4.
5. Attachment of
6.
7.
8.
9.
DECLARATION
FUGITIVE ECONOMIC OFFENDERS
1.
FUGITIVE ECONOMIC OFFENDERS (PROCEDURE FOR CONDUCTING SEARCH AND SEIZURE) RULES, 2018
FUGITIVE ECONOMIC OFFENDERS
FUGITIVE
Manner of issuing letter of request to a Court or authority in the contracting State for execution of the order of the Special Court
Fugitive Economic Offenders Act, 2018
[17 OF 2018]
An Act to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto.
BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:—
CHAPTER I
PRELIMINARY
Short title, extent and commencement.
1. (1) This Act may be called the Fugitive Economic Offenders Act, 20181.
(2) It extends to the whole of India.
(3) It shall be deemed to have come into force on the 21st day of April, 2018. Definitions.
2. (1) In this Act, unless the context otherwise requires,––
(a) “Administrator” means an Administrator appointed under sub-section (1) of section 15;
(b) “benami property” and “benami transaction” shall have the same meanings as assigned to them under clauses (8) and (9) respectively of section 2 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988);
(c) “contracting State” means any country or place outside India in respect of which arrangements have been made by the Central Government with the Government of such country through a treaty or otherwise;
(d) “Deputy Director” means the Deputy Director appointed under subsection (1) of section 49 of the Prevention of Money-laundering Act, 2002 (15 of 2003);
(e) “Director” means the Director appointed under sub-section (1) of section 49 of the Prevention of Money-laundering Act, 2002 (15 of 2003);
(f) “fugitive economic offender” means any individual against whom a warrant for arrest in relation to a Scheduled Offence has been issued by any Court in India, who—
1. Dated 31-7-2018.
S. 2 FUGITIVE ECONOMIC OFFENDERS ACT, 2018 2
(i) has left India so as to avoid criminal prosecution; or
(ii) being abroad, refuses to return to India to face criminal prosecution;
(g) “key managerial personnel” shall have the same meaning as assigned to it in clause (51) of section 2 of the Companies Act, 2013 (18 of 2013);
(h) “notification” means a notification published in the Official Gazette and the expression “notify” shall be construed accordingly;
(i) “person” includes—
(i) an individual;
(ii) a Hindu Undivided Family;
(iii) a company;
(iv) a trust;
(v) a partnership;
(vi) a limited liability partnership;
(vii) an association of persons or a body of individuals, whether incorporated or not;
(viii) every artificial juridical person not falling within any of the preceding sub-clauses; and
(ix) any agency, office or branch owned or controlled by any of the above persons mentioned in the preceding sub-clauses;
(j) “prescribed” means prescribed by rules made under this Act;
(k) “proceeds of crime” means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a Scheduled Offence, or the value of any such property, or where such property is taken or held outside the country, then the property equivalent in value held within the country or abroad;
(
(
l) “Schedule” means the Schedule appended to this Act;
m) “Scheduled Offence” means an offence specified in the Schedule, if the total value involved in such offence or offences is one hundred crore rupees or more;
(
n) “Special Court” means a Court of Session designated as a Special Court under sub-section (1) of section 43 of the Prevention of Money-laundering Act, 2002 (15 of 2003).
(2) The words and expressions used and not defined in this Act but defined in the Prevention of Money-laundering Act, 2002 (15 of 2003) shall have the meanings respectively assigned to them in that Act.
COMMENTS
SECTION NOTES
2.1 Definition of “Proceeds of Crime” [Section 2(k)]
“Proceeds of crime” means any property derived or obtained, directly or indirectly, by any person.
3 FUGITIVE ECONOMIC OFFENDERS ACT, 2018 S. 4
This derivation or obtainment must be as a result of criminal activity relating to a Scheduled Offence.
“Proceeds of crime” also means the value of any such property.
Where such property is taken or held outside the country, “proceeds of crime” means the property equivalent in value held within the country or abroad.
Application of Act.
3. The provisions of this Act shall apply to any individual who is, or becomes, a fugitive economic offender on or after the date of coming into force of this Act.
CHAPTER II
DECLARATION OF FUGITIVE ECONOMIC OFFENDERS AND CONFISCATION OF PROPERTY
Application for declaration of fugitive economic offender and procedure therefor.
4. (1) Where the Director or any other officer not below the rank of Deputy Director authorised by the Director for the purposes of this section, has reason to believe (the reasons for such belief to be recorded in writing), on the basis of material in his possession, that any individual is a fugitive economic offender, he may file an application in such form and manner as may be prescribed in the Special Court that such individual may be declared as a fugitive economic offender.
(2) The application referred to in sub-section (1) shall contain—
(a) reasons for the belief that an individual is a fugitive economic offender;
(b) any information available as to the whereabouts of the fugitive economic offender;
(
c) a list of properties or the value of such properties believed to be the proceeds of crime, including any such property outside India for which confiscation is sought;
(
d) a list of properties or benami property owned by the individual in India or abroad for which confiscation is sought; and
(
e) a list of persons who may have an interest in any of the properties listed under clauses (c) and (d).
(3) The Authorities appointed for the purposes of the Prevention of Moneylaundering Act, 2002 (15 of 2003) shall be the Authorities for the purposes of this Act.
COMMENTS
CASE LAWS
Quashing Proceedings – Sufficiency of Reasons to Believe - The petitioner approached the Delhi High Court under section 482 Cr.P.C. seeking quashing of proceedings initiated under the Fugitive Economic Offenders Act, 2018, including the declaration of him as a fugitive economic offender. He argued that the complaint relied solely on a communication from the Income Tax Department asserting that the alleged
FUGITIVE ECONOMIC OFFENDERS ACT 2018 WITH RULES – BARE ACT WITH SECTION NOTES
AUTHOR : TAXMANN'S EDITORIAL BOARD
PUBLISHER : TAXMANN
DATE OF PUBLICATION : JULY 2025
EDITION : 2025 EDITION
ISBN NO : 9789371263313
NO. OF PAGES : 48
BINDING TYPE : PAPERBACK
DESCRIPTION
Fugitive Economic Offenders Act 2018 with Rules [Bare Act with Section Notes] by Taxmann is a thoroughly updated legal reference that consolidates the complete, amended text of the Act and all allied rules, enhanced with practical, section-wise commentary. This authoritative volume is tailored to address India's legal framework for tackling high-value economic offenders who evade prosecution, supporting compliance, litigation, enforcement, and policy analysis in matters such as financial fraud and asset recovery. This book is intended for the following audience:
� Legal Practitioners & Judiciary
� Enforcement & Regulatory Agencies
� Insolvency Professionals, Resolution Applicants & Bankers
� Corporate Counsels & Compliance Officers
� Academicians, Researchers & Policy Analysts
� Students of Law & Commerce
The Present Publication is the 2025 Edition, covering the amended and updated text of the Fugitive Economic Offenders Act [Act No. 17 of 2018] and Rules, with the following noteworthy features:
• [Complete & Updated Text] Full, amended Act and all relevant rules notified up to 2025
• [Latest Amendments] Incorporates recent changes, judicial updates, and executive notifications
• [Pre-amendment Provisions] Footnotes on prior versions for reference and comparison
• [Section-wise Notes] Detailed notes, interpretative commentary, and key judicial precedents for each section
• [Allied Rules Included] Comprehensive coverage of all procedural and substantive rules under the Act
• [Latest Case Law] Summaries of important judgments and practical illustrations of enforcement
• [Explanatory Index] Exhaustive subject index and legislative cross-references for easy navigation
• [Comprehensive Coverage] From identification and attachment of assets to cross-border enforcement procedures
• [Trusted Reference] Widely relied on for compliance, litigation, and academic research
