#RealtyNewsRoundup: Govt Drafts Bill To Nail Fugitive Offenders
The Centre and states have decided on the Goods and Services Tax rates for specific products. The new rates are expected to lower prices for a majority of products of mass consumption. Rates on 1,211 items were finalised by the GST Council on May 18. The council will be deciding the rates for six more products on May 19.
The Union government has drafted a law to confiscate properties of fugitive offenders. The Fugitive Economic Offenders Bill, 2017, will help authorities take action against willful defaulters who attempt to evade legal action by staying off the country’s geographical limits.
Meanwhile, the Enforcement Directorate has taken possession of troubled businessman Vijay Mallya’s 17-acre beach-facing farmhouse worth about Rs 100 crore in Maharashtra’s Alibaug. The agency had issued an eviction notice to the beleaguered liquor tycoon on April 25 to vacate the property. The ED has identified properties worth over Rs 11,000 crore belonging to Mallya, and at least Rs 9,000 crore worth of properties have already been attached by the agency under the Prevention of Money Laundering Act.
The Noida Authority in an early morning anti-encroachment demolition drive against illegal squatters flattened 34,000 square meters of commercial land located in Noida's notified area of sector 150 along the Noida-Greater Noida Expressway. The drive was undertaken in the area near Momnathal and Tilwada villages of Noida on Tuesday.
Source: Media reports