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● Statement 1 is incorrect: Fugitive economic offender (FEO): An FEO is a person against whom an arrest warrant has been issued for committing any offence listed in the Act, and the value of the offence is at least Rs 100 crore. Further, the person has left the country and refuses to return, in order to avoid facing prosecution. The Act lists 55 economic offences in the Schedule. ● Statement 2 is incorrect: The authorities appointed under the Prevention of Money Laundering act, 2002, may file an application before a Special Court (designated under the PMLA) to declare a person an FEO. The Special Court will issue a notice to the individual: (i) requiring him to appear at a specified place on a date which is at least six weeks after the issue of notice, and (ii) stating that a failure to appear will result in him being declared an FEO. Notice may also be served at the individual’s email address recorded in the PAN or Aadhaar databases. ● Statement 3 is correct: The Special Court may confiscate properties of an FEO which are proceeds of crime, benami properties, or any other properties. These properties may be in India or abroad. The Special Court may exempt certain properties from confiscation where any other person has a legitimate interest in them. Upon confiscation, all rights and titles in the property will vest in the central government, free from encumbrances (claims or rights in the property). The central government may dispose of these properties after 90 days.
The type of farming that reduces risk is known as______
What does the rhizosphere: soil (R:S) ratio quantify?
What is the top portion of the turned furrow slice called?
Which term describes uncoiling of buds in ferns?
How much Vitamin A should Fortified Milk contain?
Under which ministry does the Cotton Corporation of India (CCI) operate?
What is the percentage of nitrogen in the ammonium nitrate?
Which sub-scheme of Prampargat Krishi Vikas Yojna (PKVY) is associated with the promotion of natural farming?
National Agricultural Technology Project was started in the year:
Which of the following is a complex fertilizer?