51 left India, defrauding over ₹17,900 crore

The Central Bureau of Investigation (CBI) has informed the Finance Ministry that 51 absconders and proclaimed offenders in 66 cases, who face allegations of fraud involving over ₹17,900 crore, have left for other countries.

In a written reply to a question in the Rajya Sabha, the government quoted the figures shared by the CBI and other enforcement agencies. The Central Board of Indirect Taxes and Customs (CBIC) has reported that six economic offenders had left the country illegally. The Enforcement Directorate (ED) had filed applications in court against 10 individuals under the Fugitive Economic Offenders Act. The CBIC sent two extradition requests to the External Affairs Ministry in July.The Interpol had issued Red Notices on the ED’s requests for the extradition of eight individuals.

As reported by the Department of Financial Services, the expected losses on account of the stressed loans stemming from such cases ,not provided earlier under the flexibility given to restructure loans, were reclassified as non-performing assets (NPAs). The public sector banks had initiated the clean-up by recognising the NPAs and providing for the likely losses, the government said.

While the CBI and the ED have moved court in these cases, the CBI is processing 51 extradition requests pending at various stages.

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