The Act aiming to deter the offenders who are involving in economic offences amounting minimum Rs. 100 crores from evading the process of law in India by staying outside the jurisdiction of Indian courts. The bill has been cleared by Rajya Sabha and Lok Sabha on 25th July, 2018 and 19th July, 2018 respectively and received the assent of president on 31st July, 2018.

[Source: Act notified in the gazette by Ministry of Law & Justice on 31st July, 2018]