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51 fugitive economic offenders robbed India of Rs 17,947 Cr

Minister of State for Finance Anurag Singh Thakur told Rajya Sabha that Central Bureau of Investigation (CBI) is investigating cases related to 51 fugitive economic offenders who defrauded the country of Rs 17,947.11 crore
New Delhi: As many as 51 fugitive economic offenders ran away from India after cheating this country of Rs 17,947 crore, the government informed Parliament on Tuesday. The information was provided by Minister of State for Finance and corporate affairs Anurag Singh Thakur in a written reply to a question on 'fugitive economic offenders' in the Rajya Sabha. "The Central Bureau of Investigation has reported that as on date, 51 absconders and proclaimed offenders in 66 cases are known to have left for other countries. Further, the CBI has reported that the total amount defrauded by the accused persons in these cases comes to Rs 17,947.11 crore (approx)," said the minister. The next part of the question was that how much concessions these fugitives were given or whether their loans were written off in specific instances. "As reported by the department of financial services (DFS), the expected losses on stressed loans, not provided earlier under flexibility given to restructuring loans, were reclassified as NPAs and provided for. Public sector banks initiated cleaning up by recognising NPAs and provided for expected losses," Thakur said in response. The minister added that the ED and the CBI had filed applications in respect of these cases in the concerned courts and currently the cases are either under investigation or on trial. Anurag Singh Thakur said the CBI is in the extradition process of these 51 fugitive economic offenders. The request for the same is pending at various stages.
"As reported by the department of financial services (DFS), the expected losses on stressed loans, not provided earlier under flexibility given to restructuring loans, were reclassified as NPAs and provided for. Public sector banks initiated cleaning up by recognising NPAs and provided for expected losses,"- Anurag Singh Thakur, MoS Finance and corporate affairs
The minister also informed the upper house that the Central Board of Indirect Taxes and Customs (CBIC) also had reported about six fugitive economic offenders who had left the country illegally. "The Enforcement Directorate has filed an application against 10 individuals in the competent court under the Fugitive Economic Offenders Act, 2018," Thakur said. "In respect of extradition requests sent by ED for 8 individuals, red-corner notices have also been published by Interpol," the minister added.