Critical Analysis Of Economic Offenders Act

Kartik Agrawal, BA. LLB, O.P Jindal Global University

ABSTRACT

India has seen a significant rise in economic offenders. The laws that are aimed to prohibit economic offences are seen to be not working effectively. The biggest issue that they are facing currently is with regards to extradition. This can be seen in cases like the Vijay Mallaya scam or Mehul Choksi Case. The UK has become a primary destination for economic offenders and Indian authorities are facing issues in moving against these offenders. But despite that can we draw a commonality and/or differences between various economic offences that have taken place. This paper will try and do a critical analysis of various economic offences that have taken place in India and will try to rely on behavioral theories and models that can help pinpoint commonalities between them. This could help in possible intervention as these red flags and theories could become a possible basis for keeping a check on potential economic offenders. This paper will place reliance on various scams like Sahara, Vijay Mallya, Nirav Modi, Harshad Mehta, and YesBank. Based on these scams this paper will try to establish loopholes, red flags, and behavioral risks that one could look up to in the future.