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New Delhi Correspondent
Indian Prime Minister Narendra Modi has suggested a nine-point programme for the G20 countries to tackle fugitive economic offenders including a joint mechanism that denies entry and safe haven for such offenders.
In his intervention at the second session of the G20 Summit in Buenos Aires on Friday, Modi proposed that strong and active cooperation across the grouping’s member-countries to deal comprehensively and efficiently with fugitive economic offenders. He said cooperation be enhanced and streamlined in the legal processes such as effective freezing of proceeds of crime, early return of the offenders and efficient repatriation of the proceeds of crime, according to a document posted by the Indian External Affairs Ministry spokesman Raveesh Kumar on the MEA Twitter.
Modi said the principles of the UN Convention against Corruption and the UN Convention Against Transnational Organized Crime, especially related to international cooperation should be fully and effectively implemented.
Among the other proposals made by Modi are: setting up of common platforms for sharing experiences of best practices including successful cases of extradition, gaps in existing systems of extradition and legal assistance; G20 should initiate work on locating properties of offenders who have a tax debt in the country of their residence for its recovery; Financial Action Task Force (FATF), a grouping comprising 89 countries, should formulate a standard definition of economic offenders and develop a set of commonly-agreed and standardized procedures for identification, extradition and judicial proceedings for dealing with fugitive economic offenders subject to domestic law.
At least two leading Indian tycoons—liquor baron and owner of now-defunct Kingfisher Airlines Vijay Mallya and billionaire diamond merchant Nirav Modi—are fugitive economic offenders who are abroad after having defaulted in repayment of bank loans running into billions of dollars. India is trying to bring them back and face trial.