On Fugitive Billionaires, Parliamentary Panel Flags Extradition Delays

The Income Tax department has made references to 3,225 cases to foreign countries seeking information about financial assets located in their territory. Responses have come in 2,085 cases.

A Parliamentary Committee on External Affairs has submitted its report where it has expressed concern "with the delays in extradition of fugitives" and said the "process should be expedited in each case". Extradition arrangement should be made with nations where none exists, the committee, headed by BJP leader PP Chaudhary, has also suggested.

"Taking advantage of the absence of extradition treaties the offenders are taking refuge in the countries having provisions for citizenship by investment programmes or favourable residency or passport regimes through investment routes," the report read.

Though the overall number of pending extradition requests has not been divulged, the Enforcement Directorate has told the committee that they started extradition requests from 2017.

Till 2020, extradition proceedings have been initiated against 21 economic offenders, of whom only two have been extradited.