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Congress questions Fugitive Economic Offenders Bill, 2018

By FnF Correspondent | PUBLISHED: 25, Jul 2018, 20:27 pm IST | UPDATED: 25, Jul 2018, 20:30 pm IST

Congress questions Fugitive Economic Offenders Bill, 2018 New Delhi: As the Fugitive Economic Offenders Bill, 2018 was passed by the Rajya Sabha with a voice vote by the government Congress questioned the intent of the Bill saying that the bill has been got very timely to save Mehul Chauksi who just happened to attain Antigua Passport 3 months after PM Modi met the country’s President.

In a statement issued by Congress’s Rajeev Gowda and National Media panellist Gourav Vallabh said, ‘’Modi Govt bringing ‘Fugitive Economic Offenders Bill’ as a ‘Face Saving Exercise’ as it has Failed in its Fight Against ‘Black Money’. It also said, Modi Govt deliberately omitted more glaring fact that deposits in Swiss have gone up by 23% in Q1, FY18.’’

Targeting the Prime Minister on Black Money, Congress questioned that Modi ji had promised to bring back 80 Lakh Crore of Black Money stashed in foreign banks and deposit Rs 15 Lakh in everyone’s account. It said, BJP’s feeble fight against corruption and black money has miserably failed as after 13 Bank Loot Scams worth more than ₹ 70,000 Cr, fraudsters have run away from the country. Nirav Modi i.e Chhota Mod# 2 is globetrotting and PM Modi’s  Mehul Choksi gets an Antigua Passport after visiting China, Belgium, UK, US, UAE and Hong Kong. Investigation agencies like the CBI/ED have failed to get a Red Corner Notice issued against him till today. Faced with criticism from all sides, now the Modi Govt is hurriedly trying to hide behind the ‘Fugitive Economic Offenders Bill’.

Gowda said, ‘’After 4 years, deposit in Swiss Banks has gone up by 50%. When cornered on these hard facts, a rattled BJP’s treasurer & Finance Minister, Shri Piyush Goyal is flashing ‘new statistics’, ‘new methodology’ and ‘newer lies’ to mislead the people. ‘’

Congress posed 3 questions to the ruling party.
1.    What happened to PM Modi’s promise of bringing back ₹ 80 lakh Crore of ‘Black Money’ stashed aboard?
2.    There are wide legal loopholes in the hurriedly brought ‘Fugitive Economic Offenders Bill’. If the constitutionally problematic sections are struck down – nothing worthwhile shall remain in the Bill – it is in no way different from existing law. Is this not just a ‘Face Saving Exercise’ after Modi Govt’s massive failure to tackle 13 Bank Loot Scams worth ₹ 70,000 Cr where at least half a dozen people have officially run away after duping banks? Where are the extradition treaties with those countries are bring these fugitives back?
3.    If Black Money moves out of India it doesn't move in a direct manner (From India to Swiss), it moves via various tax heavens (Say Cayman Islands, Hong Kong etc). So in BIS data it will be reflected as a liability towards Cayman Island (British Overseas Territory). Both Nirav Modi and Mehul Choksi also went to Hong Kong, UAE etc. Why isn’t the Modi Govt not revealing those deposits?

The Lok Sabha had cleared the Bill on July 19, 2018.
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